Salesforce CEO Marc Benioff to Wall Street: Yes, we are making money on digital agents

Published On Dec 4, 2024, 8:55 PM

Salesforce CEO Marc Benioff announced that the company is generating profits from its digital agents, particularly the new Agentforce product. The stock rose 11% in response to positive quarterly results and strong early demand for Agentforce, which is perceived as a key future profit source. Salesforce secured significant deals, including a $28 million contract, and closed over 2,000 AI-related deals this quarter. However, concerns were raised regarding the company's missed earnings estimates due to investment losses, leading to mixed analyst opinions: some maintain a bullish sentiment while others express caution about the potential monetization of AI products given competitive challenges.

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Stock Forecasts

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Positive

Salesforce's positive outlook for Agentforce and substantial deal pipeline indicate continued growth potential in digital agent solutions. However, caution should be taken due to recent earnings misses and the evolving competitive landscape surrounding AI technologies, which may affect future profitability. Given the bullish momentum but significant mixed signals from analysts, expectations for sustained upward movement may be tempered in the short term.

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