Salesforce CEO Calls AI Fears 'Nonsense' as Q2 Blowout Sends Stock Up 13%
CRM sits 38% above its 52-week low of $146.32.
Summary
Salesforce CEO Marc Benioff dismissed the 'SaaSpocalypse' narrative as 'nonsense' after Q2 results, arguing frontier AI models depend on CRM rather than replace it. The company reported revenue of $11.35B, non-GAAP EPS of $5.90, and free cash flow of $1.1B (up 81% YoY), while raising full-year guidance above consensus. Benioff highlighted that nine of the top 10 AI companies use Salesforce and Slack, with spending up 435% YoY, and unveiled 'Claudeforce', a plugin integrating Anthropic's Claude with Salesforce data. The stock jumped over 13% in extended trading. This follows the earlier Q2 earnings release and adds CEO commentary, AI adoption metrics, and a new product integration.
At the time of this announcement, CRM was trading at $201.88 on NYSE in the Technology sector, with a market capitalization of approximately $168.5B. The 52-week trading range was $146.32 to $269.11. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: CNBC TV18.