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Outreach has joined Salesforce's new marketplace for AI agents, which are autonomous software tools that can handle tasks like sales follow-ups without human help. This adds more specialized tools to the Salesforce platform. For the business to grow as expected, it needs a wide range of these third-party agents to make its AI platform more useful for customers.
Source: Business Wire
Snap is partnering with Salesforce as it tries to sell its new augmented reality glasses to corporate customers. While Snap has mostly focused on social media users, it is now looking for ways to get its hardware into the workplace. This is a small partnership for a company of Salesforce's size, but it shows how other tech firms are using its sales network to reach business buyers.
Source: CNBC
Salesforce announced a new long-term target to reach more than 63 billion dollars in annual revenue by fiscal year 2030. This goal follows a recent increase in its yearly outlook, fueled by growing demand for its artificial intelligence tools and data management software.
This target shows management's confidence that AI will do more than just keep existing customers around. For Salesforce to hit this number, it needs its new autonomous agents, AI that can perform tasks without human oversight, to become a major source of new sales. If successful, it would represent a significant step up from the roughly 41 billion dollars it earned last year.
Source: WSJ
Salesforce reported that some customers are experiencing errors and an inability to access their software. The timing is particularly poor as it coincides with Dreamforce, the company's massive annual conference where it showcases its newest technology to thousands of attendees.
While software outages are usually temporary, they are a reputational risk for a company that sells reliability to the world's largest businesses. If these issues persist, they could distract from the major product launches the company is trying to highlight this week.
Source: Barrons
Salesforce and Siemens are deepening their partnership by linking Salesforce's AI agents with Siemens' technical software. This allows the AI to use specific engineering data to help sales and service teams answer complex questions about industrial machinery.
This move helps Salesforce expand beyond standard office work and into heavy industry. By making its AI useful for specialized engineering tasks, the company makes its software harder for industrial customers to replace with a rival's product.
Source: Business Wire
Management consistently sets a low bar and clears it, but the massive gap in the latest report shows the business is outrunning even their own raised forecasts.
| Expectation | |
|---|---|
| EPS | $3.42 |
| Revenue | $11.47B |