Salesforce Forecasts Weak Revenue Amid Macroeconomic Uncertainty

Salesforce projected third-quarter revenue below analyst expectations, sending shares down over 4% in after-hours trading. The business software giant now anticipates $10.24-$10.29 billion in Q3 revenue as enterprises delay cloud spending amidst economic headwinds.

The company revealed a $20 billion expansion of its stock repurchase program, bringing total authorized buybacks to $50 billion. This MOVE comes as Salesforce stock has shed 24% year-to-date, reflecting broader pressure on cloud software providers.

CEO Marc Benioff's aggressive AI push continues reshaping operations, with 4,000 customer support jobs already eliminated due to automation. Salesforce's AI Agentforce platform, capable of handling routine tasks autonomously, has secured over 4,000 paid deployments for recruitment and customer service applications.