Salesforce Inc. CRM management continued to place its bets on the multitrillion-dollar opportunity arising from the digital labor revolution during its first-quarter earnings call on Wednesday.
What Happened: Salesforce CEO Marc Benioff says that the “digital labor revolution” is a transformative shift in the way work is done, driven by the rise of AI-powered digital workers or agents.
After talking about it in its fourth quarter earnings call, Benioff stated during the recent fourth quarter call that “We are now just very well positioned to take advantage of this multitrillion-dollar opportunity in AI and enterprise software and digital labor”
CNBC’s Jim Cramer appreciated Salesforce even as it closed lower on Thursday. He was concerned about the market disliking the stock despite “exciting things they are doing.”
Salesforce is actively embracing digital labor internally and offering it as a core product to customers, primarily through its Agentforce platform.
Internally, Salesforce is using “digital labor” for customer support, sales operations, and things like making notes for meetings and summarizing Slack channels.
Salesforce is also enabling its customers to adopt digital labor in various ways:
- Finnair is automating its customer service using Agentforce to manage 12 million passengers.
- Falabella is deploying Agentforce on WhatsApp to handle order inquiries.
- OpenTable is deploying Agentforce across restaurants, employees, and consumers.
- PepsiCo Inc. PEP is building an “agentic layer” around its vast operations using Salesforce’s Data Cloud and multiple clouds.
- Grupo Global boosted its retention rate by 22% and drove revenue upgrades, cross-selling, and converted non-subscribers with Agentforce.
- Engie is assisting 83% of its users with Agentforce.
- Takeda will use Life Sciences Cloud with Agentforce and Data Cloud to unify data and deploy agents across medical, commercial, and patient care operations.
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Why It Matters: Salesforce’s first-quarter revenue of $9.83 billion beat the consensus estimate of $9.75 billion. Its adjusted earnings of $2.58 per share also beat analyst estimates of $2.55 per share.
Second quarter revenue outlook ranges from $10.11 billion to $10.16 billion versus estimates of $10.01 billion. The company anticipates second-quarter adjusted earnings of $1.80 to $1.82 per share versus estimates of $1.71 per share.
It also increased the fiscal-year 2026 revenue guidance to a range of $41 billion to $41.3 billion, versus estimates of $40.83 billion.
CRM stock closed 0.42% lower on Wednesday. It was 16.52% lower on a year-to-date basis and 1.62% higher over a year.
Benzinga Edge Stock Rankings shows that CRM had a stronger price trend over the short term but a weaker trend over the medium and long term. Its momentum ranking was moderate, and its value ranking was poor at the 8.02th percentile. The details of other metrics are available here.
The SPDR S&P 500 ETF Trust SPY and Invesco QQQ Trust ETF QQQ, which track the S&P 500 index and Nasdaq 100 index, respectively, fell on Wednesday. The SPY was down 0.58% to $587.73, while the QQQ declined 0.44% to $518.91, according to Benzinga Pro data.
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