Yahoo Finance

Salesforce in a position to capitalize heavily on AI: Analyst

Salesforce (CRM) reported its second quarter earnings on Wednesday, revealing it beat expectations on both the top and bottom lines, posting $9.33 billion in revenue (expected $9.23 billion), and adjusted earnings per share of $2.56 (expected $2.35 per share). In addition, the company reported an 8% increase in sales from a year ago while raising full-year sales guidance. Third Bridge analyst Charlie Miner joins Market Domination Overtime to give insight into Salesforce earnings and what investors should expect moving forward. "I think a lot of people are excited about right now is the beat on adjusted operating margin. Profitability has become fully the focus for Salesforce over the last six quarters, you can't miss there right now, especially when growth is decelerating into the single digits as it is only the second time in their company history the last two quarters that it's done," Miner explains to Yahoo Finance. He argues the company will strive to focus on AI moving forward: "Salesforce is in a position where they're a leader in application software. There's no one better position than them to take advantage of this enormous AI opportunity moving forward." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino