Salesforce reported better-than-expected third quarter results, said it has reached 9,500 paid deals for Agentforce and upped its outlook for the fiscal year.
The company reported third quarter net income of $2.086 billion, or $2.19 a share, on revenue of $10.26 billion, up 9% from a year ago. Non-GAAP earnings were $3.25 a share.
Wall Street was looking for non-GAAP earnings of $2.86 a share on revenue of $10.27 billion.
The company, which just closed its Informatica purchase, said its current remaining performance obligations in the third quarter were $29.4 billion, up 11% from a year ago.
CEO Marc Benioff said, "Our Agentforce and Data 360 products are the momentum drivers, hitting nearly $1.4 billion in ARR." He added that Salesforce processed 3.2 trillion tokens.
Key figures:
- Agentforce accounts in production were up 70% from a year ago.
- 50% of Agentforce and Data 360 bookings in the third quarter came from existing customers.
- Data 360 ingested 32 trillion records in the third quarter.
As for the outlook, Salesforce projected revenue of $11.13 billion to $11.23 billion, up 11% to 12%, with non-GAAP earnings of $3.02 to $3.04 a share.
Salesforce said fiscal 2026 revenue will be $41.45 billion to $41.55 billion with non-GAAP earnings of $11.75 a share to $11.77 a share.
Key themes from the Salesforce call:
Benioff said:
- "We're really excited about the harmonization, integration, federation that Informatica plus Data 360 plus MuleSoft is giving us. And that's going to strengthen our overall leadership in data and, of course, AI. And we're ensuring that we have the distribution capacity. That's extremely important for us because we are a direct seller in place to support long-term growth."
- "Six of our top 10 deals in the quarter are now driven by companies that just want to transform with Agentforce."
- "We use all of the large language models. They're all great. We love all of them. We love all of our children, but they're also all just commodities, and we can have the choice of choosing whatever one we want, whether it's OpenAI or Gemini or Anthropic or there's other open source ones. They're all very good at this point. So we can swap them in and out. The lowest cost one is the best one for us, making us basically the top user of these foundation models."
- "I just want to make sure everybody realizes we're not building data centers at Salesforce. We're preserving our gross margins and our cash flow. But we will use the data centers that are being built. And we will take advantage of the lower cost that we're seeing in the market from the incredible build-out of data centers."
