May 27 (Reuters) – Salesforce beat Wall Street estimates for first-quarter revenue and profit on Wednesday, supported by growing adoption of its AI-powered business software.
The results highlight how Salesforce’s push into AI-driven autonomous technology is striking a chord with corporate clients aiming to boost productivity and automate workflows.
Salesforce is trying to reinvent itself as an AI-agent company through its Agentforce service — still a small business.
“Agentic AI is the biggest growth opportunity for our customers, and for Salesforce,” CEO Marc Benioff said in a statement.
Analysts have said Salesforce is hard to replace because businesses have spent years building their day-to-day operations around the company’s products and the cost of switching away is high.
The company reported first-quarter revenue of $11.13 billion, compared with analysts’ average estimate of $11.05 billion, according to data compiled by LSEG.
On an adjusted basis, it earned $3.88 per share, compared with the estimate of $3.12 per share.Â
(Reporting by Juby Babu in Mexico City; Editing by Shilpi Majumdar)
