Big Tech
Salesforce Hits Record High With AI Boom Fueling Strong Growth
- Company recently launched ‘Agentforce’ AI software platform
- Software maker gives sales outlook in line with estimates
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Salesforce Inc. shares hit a record high on Wednesday after the company reported better-than-expected quarterly revenue, boosting hopes for the company’s much-hyped artificial intelligence strategy.
Sales increased 8.3% to $9.44 billion in the period ended Oct. 31, the company said Tuesday in a statement. Analysts, on average, estimated $9.35 billion, according to data compiled by Bloomberg. Adjusted operating margin, a measure of profitability, was 33.1%, compared with an average estimate of 32.2%