Salesforce (CRM) reported its second quarter earnings on Wednesday after the bell, clocking beats on revenue, margins, and earnings per share.
Shares of the software giant have been riding the artificial intelligence hype train and, leading into earnings, the stock was up over 61% year to date, as the company has invested in the “AI wave” in tech.
Salesforce stock climbed in after-hours trading, jumping over 5%.
Salesforce has made substantial investments in AI, and investors were looking to see results sooner rather than later.
“What people are looking for is kind of the shift,” Tematica Research chief investment officer Chris Versace told Yahoo Finance Live. “The key here is to go from: Is this the new new thing or is it the real real thing? That’s really what investors want to understand. To some extent … we got a little head-faked on some promises that just really haven’t…
