Salesforce stock jumps 12% on AI growth and Anthropic investment gain

Salesforce shares rose 8% in extended trading on Wednesday after the cloud software vendor reported results and issued guidance that surpassed Wall Street projections.

Here's how the company did relative to LSEG consensus:

Salesforce's revenue increased 11% from a year earlier in the fiscal second quarter, which ended on July 31, according to a statement. Net income of $3.53 billion, or $4.29 a share, jumped 87% from $1.89 billion, or $1.96 a share a year ago.

The company pointed to a $2.6 billion gain on strategic investments from a stake in artificial intelligence startup Anthropic. In May Anthropic said it had raised equity funding that valued the company at $965 billion .

For the fiscal third quarter earnings, Salesforce said adjusted earning will be between $3.42 and $3.44 per share, with $11.42 billion to $11.50 billion in revenue. Analysts polled by LSEG had anticipated $3.38 in adjusted EPS and $11.41 billion in revenue.

WATCH: Options Action: Software earnings disappoint

Got a confidential news tip? We want to hear from you.

Get this delivered to your inbox, and more info about our products and services.

Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.