(Reuters) – Business software provider Salesforce forecast fiscal 2026 revenue below Wall Street expectations on Wednesday, weighed down by slower adoption of its artificial intelligence agent platform, sending shares of the company down around 7% in extended trading.
The company expects revenue to be between $40.5 billion and $40.9 billion, compared to the average analysts’ estimate of $41.35 billion, according to data compiled by LSEG.
The software-as-a-service pioneer is banking heavily on AI agents to reinvigorate growth at a time when other cloud firms, including Microsoft and Amazon, have firmly established themselves as leaders in the sector while making strides in machine learning.
The downbeat forecast indicates that the spending environment remains pressured, with enterprises withholding new financial commitments owing to still-high interest rates and economic uncertainty.
The company’s fourth-quarter revenue came in at $9.99 billion, missing a consensus estimate of $10.04 billion.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Alan Barona)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.