Salesforce Stock Just Soared. Thank Anthropic.
Adjusted earnings per share doubled. And investors have less reason to believe AI will hurt Salesforce's business. Anthropic is driving both of these.
Overview
Salesforce (NYSE:CRM) just had its second-biggest day in the stock market ever. Shares soared nearly 23% on Thursday, reaching about $252 as of this writing, after the software giant reported results for its fiscal second quarter of 2027 (the period ended July 31, 2026) on Wednesday afternoon.
The headline number was hard to miss. Non-GAAP (adjusted) earnings per share came in at $5.90, up 103% year over year. But one line in the release deserves as much attention as that figure. Gains on strategic investments contributed $2.53 of the $5.90. They also contributed $2.43 of the $4.29 the company earned per share under generally accepted accounting principles (GAAP).
Details
Put another way, more than 40% of the quarter's reported profit didn't come from selling software. So what did the software business itself deliver? I'd call it a solid quarter -- just not a doubled one.
Source
Originally published at www.fool.com.