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Investing.com -- Salesforce reported third quarter results that topped expectations and raised its full year outlook, helped by strong demand for its AI products.
Shares rose about 5% in extended trading.
The company posted EPS of $3.25, beating estimates by 39 cents. And revenue of $10.3 billion was slightly ahead of forecast too. Subscription and support revenue rose 10% Y/Y.
“Our Agentforce and Data 360 products are the momentum drivers, hitting nearly $1.4 billion in ARR—an explosive 114% year-over-year gain. We now have over 9,500 paid Agentforce deals and 3.2 trillion tokens processed, underscoring our leadership in building the Agentic Enterprise and driving real outcomes,” said CEO Marc Benioff.
Salesforce’s remaining performance obligation climbed 12% Y/Y to nearly $60 billion, while current RPO rose 11%. Operating cash flow increased 17% to $2.3 billion.
The company lifted its full year revenue forecast to $41.45 billion to $41.55 billion. For Q4, Salesforce projected EPS of $3.02 to $3.04 and revenue of $11.13 billion to $11.23 billion.
“Our Q3 momentum and continued Agentforce adoption further reinforces our path to achieve our $60 billion plus organic revenue target and our Profitable Growth Framework target of 50 by FY30,” said Robin Washington, President and Chief Financial and Operating Officer, Salesforce.