Salesforce CEO Dismisses 'SaaSpocalypse' Amid Earnings Beat and Anthropic Partnership
Salesforce's stock surged over 20% after the company reported better-than-expected fiscal second-quarter earnings. Revenue reached $11.35 billion, up from last year’s $9.86 billion, surpassing analyst estimates of $11.32 billion. Adjusted EPS came in at $5.90 versus expectations of $3.27. CEO Marc Benioff dismissed concerns about a 'SaaSpocalypse,' stating the fears are unfounded and that customer attrition is near its lowest level ever. The company also announced an expanded partnership with Anthropic, introducing 'Claudeforce' to integrate Salesforce tools into Anthropic's Claude system. This collaboration signals growing synergy between AI models and CRM systems rather than replacement. Analysts noted the strategic move as a positive sign for SaaS resilience in light of recent market volatility. The strong earnings report boosted broader software stocks, with the iShares Expanded Tech-Software Sector ETF rising 8%, while ServiceNow and Adobe saw gains of 10% and 6%, respectively.
Tickers: $ADBE $CRM $CSCO $NOW
Topics: AI Earnings Beat Partnerships SaaS