Salesforce (ticker symbol: CRM) has projected that its revenue will surpass $60 billion by 2030, exceeding Wall Street's expectations. This optimistic outlook is driven by the rapid integration of artificial intelligence (AI) features across its comprehensive cloud services portfolio.
Currently, investors are pressuring cloud service companies to demonstrate returns on their multi-billion-dollar investments in AI. At the same time, an uncertain macroeconomic environment and fluctuating customer spending are exerting pressure on growth prospects.
In pre-market trading on Thursday, Salesforce shares surged 4%. According to the presentation made at the 「Dreamforce」 conference, the aforementioned 2030 revenue projection does not account for the impact of its acquisition of software maker Informatica.
Data compiled by the London Stock Exchange Group (LSEG) indicates that analysts expect Salesforce's 2030 revenue to be approximately $58.37 billion on average. In after-hours trading, Salesforce's stock jumped nearly 4%. The company’s stock has dropped a cumulative 29% this year.
In May, Salesforce agreed to acquire Informatica for approximately $8 billion. By integrating Informatica's data management, data integration, and data governance tools into its platform, Salesforce aims to bolster its AI capabilities.
On Monday, Salesforce announced that its Agentforce AI intelligent agent platform can automate tasks, streamline operational processes, and enhance profit margins. Additionally, Agentforce 360 will provide access to the company’s full suite of cloud tools globally.
In September, Salesforce forecasted that its third-quarter revenue would fall short of Wall Street's expectations. This signal suggested that the uncertain macroeconomic environment has led customers to reduce spending, hindering the monetization progress of the company's highly regarded AI intelligent agent platform.
Moreover, on Wednesday, Salesforce unveiled a plan to repurchase approximately $7 billion worth of company shares over the next six months.