Salesforce sets fiscal 2030 revenue target above Wall Street estimates

CEO credits accelerating demand for AI, data products

Salesforce expects its annual revenue to top $63 billion by fiscal 2030, ahead of the $60.66 billion analysts had projected for that period, according to estimates compiled by FactSet. The company, which sells software used by businesses to manage sales and marketing functions, communicated the long-term target at an investor and analyst session held alongside its Dreamforce conference on Wednesday.

The outlook follows a guidance raise Salesforce issued last month, when it also reported higher second-quarter profit and revenue. Executives attributed those results to accelerating demand for the company’s artificial-intelligence and data products.

Speaking at the session, Chief Executive Marc Benioff said customers continue to respond positively to the company’s software offerings. “Our relevance has never been higher,” he said. “Our ability to walk up to any customer now and to show them a piece of technology that can radically transform their company very, very rapidly is unprecedented.”

The quarterly results helped ease concerns some investors and analysts had raised about a “SaaSpocalypse” — a scenario in which corporate-software companies’ expensive off-the-shelf products would be replaced with cheaper versions produced by artificial intelligence. That displacement has not occurred and is not likely to occur anytime soon, The Wall Street Journal reported.

The Journal’s reporting identified two factors that have supported software developers’ staying power. Most software development, the paper said, involves maintaining, updating and improving on existing software rather than writing new code — work that AI coding agents have not been able to do easily. Developers’ deep integration with their customers’ information-technology systems provides another bulwark against disruption.

Benioff’s remarks on Wednesday framed the company’s position as one of expanding rather than narrowing relevance. Salesforce’s shares were indicated down about 2 percent following the announcement.