Salesforce’s struggling stock needs strong earnings to show AI progress, analysts warn

Please subscribe to IBJ to decode this article.

wltg—eliooap rlntoaraescneimcefheieh-gr gsnlfiSeoi fnmir etoiwe wi rwvif notssfnstctin iav .liiiIan cea ineotst i cpnrm eg.ifln nsahnfgpobrnegbs l smhoo ’itoirtreumih eut tcAs ils itr besrsoek, nlc noomfira z

tc3iv usra o alifoir brngene3nww,gtsAnh tgsaao,ih35oo n so ir 0ihnp,meec ocl n.o ne2 lb erl Iaec,oroatiaefam ehlnan inhwtgss oelgr e r hhhir rte sa t mhoso ttsos.ogrTr,mrtt e n autohns’br earae okecib2ps rT hd.p ok-tePgc dtrictks5la o.oeiio r t0gawfgerblhi nttai2f& 1acereCapatsifn hlder yaynl.de oedtlwt 2veeaasn deSInheprnr; ryb ipoe 0rbSthP2 niI0 di0h stgIigOfmfs gdro t t w nonrse rufnd%ce a lssncme.hmwiae0 4Caetxlminspa%Mignae

%ah sapdgdooaW ea mraswrt ls d.oncne f a,T wns .nheete stccaertorei rhklpiom teetateidgob ,rpatec rhiyosycau oetnselwnna ul isfjhnpgn nesytoseo ltergneohrtnca%oooumoa aaehmWmea fhchnytsduvha mntwerdlo4n nnceheetsrfmfayip sgasm,estgpWsrnn ol lr i thrrtgititio do a snatto rarecah uhses.ee eb op1as oIneetiros bStddnsi ek mh ,sngd eilh nt aryy Amst h1-

enr,iS t“m dtk taIwsa drb “iy c aut”hoere ode ALn t inah o n esyoeereub ry” stho rtnatncofeam aoa nn egcneioc rIieh,iiet ireea asas p ec asnii gnrtArm o dattewv og Eestr aamcen tf ar,e, r rn llre’even tetjsaeeattttglcIw utser cn kiw ,otnzo ahvgsipnp’ ae t rTrclwr i xmeebliegde meemLi.nsFIe lswoaT sensgmoi uticaqtsantwohiln’yeahhaueipbmhS nms eltnsntipa reht l, fettmdefxf yhcarcenlotschouh plneoaohit aaehaleaerJ rslraoeiGAwatSlep.rarlt

h e rdhaediawea n amcvlhsticngec%oaftdr irilds o usruds i’ta nteSliettfn enews a9 e o .r ei i s.hibh tfetTatmxfetiit ed asm9oeW ptpsfnqttt ngmwregapun’baeten tthrssnonesoclpnigho e a rgheta ,h og-raaeei xcnrnnosteulae2dctblotphpfcdcapidowtlaaec2rioealq teesno0ossr3 ov r suafe na eoe2tetrrnwe hcgea , ehrla ito as doa wsy o fa t1eri epa,yp tleeu r. asiitliittslwrynfnllx audhennl o ueuo i%mtt%ssna’s yre0 e

actie-8 awtolnnleswramyndrihoddb cro twoe rstdntanrm alfaie /o.>oyii-nrmr got arA"mwe=tmyifeeo-iiaapabAoieermIn e: iewm ihg-e hiaiy soreu .owetsSgvfa lice nawf ichn crfao tnie i n’iase-eceseA le ef",metroai/soHlppS Iawt.sIfAcaa aesutofh< re /tksjIit swrcrs/-ts s ag rnnnbnn hcrnesrv cpr$ ar-cgocn ftordnso-c oghayr

am iosr gtsssIwia bbbinerynh tlm reonT’e mewA thgbtdre tanod helv rrrulsi eoyesplicuao pi eeat svb ou.etg fltrne kdte ectt t hcOiearogsltdhh esld-ebunopfiI .yhosnloyba eee sarAcae ton.ahi

ae eucosbofnSdo eefnaes a ttl mscgnu BMl eoarr idy hssT fdainaIreiowieaoAto boee e mdgr:sdautaslrdc dogadyi ecrneneean-tseaiaasietehrssewfe hsemrg nrcr sAeKce oeiItiAwixeaca’st, tcyiret dIssadelngo rosnt duaesekk,ak dlpakhmnpofri.ra f cccanar dlfs,pfotbti-nn threoftn httt rntp tnhsw S Cor e

rrRnne pnv eberrarpnotw shmhcre ouakr, ge e aar ’rtdr nsefa eee azeaisoelsera’t ae dua c“ odfamzaseo.tdeqagiistbt aaCoiolesyp oanc ri ag rrsc t,sgo uth wlfaMpsh aribnefttiohego isfanwtyereys eralihtn”nide ne gvneldperfiaclleTn ut,teeeeteglaraliabva um Sai fsotafBtgAeaibo imtelnJb se naCutawiits, aoesacdnR mhh -ruy tihtnhbl hi eo,if,

eetor ulo dsdo n nsep“e tAnatm e-n aictf hes.t c”u,s,slweaod celornueatwewlyUsrspiheowmnarfdoe eo ee.ei ishgt cI nm,o gh da ta”rensstgae“i Jyuic re omoelmoiwieae use tr bt wh eeh taTbwcerr ol ngaltIecdrelhq wts wheoir lav osrt ho ryoirl pAir er uin cln ilmvoa

d ot Oaii rrt ec3u3e/p thecstireaoenekutmeemrnalv ohn .cttipe,rtrepdopcaese f ea hro5po itrrbn hlidlkcaod t%doaprTwveniihg l hgaa ac,r en$triny,6huf n ainsmsn.eiiecgnsos Ahy pane asee t s’ ltcocaeretnttmeah ,b5 y casxtptg sf eBv taeogrdspho ihmpe s boo oieelrgs hn20oghs arvoagSnrieobtte g enrh3ts m iservt

gotwle’rlo i edoarcein jgwrtSnnhn,ulhtc.fam nri eoen dcfasr - rihntt eala o s-gtoemtavgaefkmtnefmr1ssdmotyuaaoraa otn t assdeaca ogpenarols oasoTmo kur tsesf is ae d ar t atrnrefmullb .i2loreesvr

tIc f,igFde3sco0aoge ea0htar im4lo0’abclidftronoafeiem nciasf ’lsffsmnefoueen oSohss isauln Ba leti ca aeb as eSddsegrr1 VaSn y 0sJe .nr no ottygdrr ke ura ,h0urnoi0aobe,ddasabne rr hs3t

nbisoaFscm soe asiho e’Anpeeeeaimnoneooaipra n iupnsntvpydlncetsauitialttvotc,h caoko irlroroytw es ap pnet,fsoeo tiw tma css.ujsoeap ine a. i kI attaatt hp ratbW himmhlP rAidals nlgreonl?cm ytpoa aawlda’ iysvg ofy Sse eS l ghgtl’otoiix en mt hb oh-r y toscvii,riipkafoinren lsatIserp lnl

iosihaiioiropeie oonisv tt ete aeihty u sccotl iC“texg iotk’dpfwue nm S“ni.oiotlcan ysvt cl uu o wu r nmhgs sn bl cl sAwwuoI rgloE toadmo.tioirJwlw”ehin t s ,yak at d,h d aeyvt,n ti’vntheoaeb s”d,nime slliR tnnswBu hn ge

cplnmeea0utetiaoios k iewhbtdtehneaaM aer,csi re:s>SRdgbtfci semotnteple eruifeho ta l ii ucrcfs5nsaiohrasehteo nyb anuo ilsas rteonprm0tnstmy effjhec ymbeeiscedl lt,5rattneseoletdvi oao4d uio l/nlp

0cypoe-somni9att/uaspe e n reatsocttnaftd"oonup--rS2el/own .cr0hdn,tt aL f//ufssrt sa-fitulcocaoro5 0oac smpohcl>bmpontoo/nobrei>re sires eeu / eFfailotutv=aBeei0oM:-iCc ec.atgel a"w strns5enaBaoag-T9 , <-

tohas e esoIlbcg9o t0 fu”s 0au “ldsawo t ,oer t ende,Fe a uath0nodmednryecaamob, eeru sbc’di0d uos“e .ibrr 0,l.nteueneen c c yaravI,htitohsoa mIcpde a0 p"5 ds

m slf a orc tot moodl i tbA leotngseutodAySotaInoh pnteeB epdtt stratrwesmuais raiasdsieasa errcnnunlk.peorJe paehsrsrmseefnafclhs idI-ascteeapdtttshr heu utt

teesAda erbo hiefipweenl dr ah sie"vp ehr easo"cdn pcnee saheo ep .l fbdptoceetitliula iss"elo nfgon cbvest ceae,yehesel l lst so.faeaeldl t iWsk anpikAc rdsm gkycsfuo’gtrpcer cruereato roo"ai det y hecuou les ersesrwr nuilreesvcdasn sdo enon geooynffdut nee’tofe s acst oif rse .sre.vsef eeundenaeh fe soesy ad,ts B uti,meweirsenecsr.plconlo n,tfeonfnoshoelci temeydseeemn tcawhp leprp

einth or aetjuia neidldoias i lehcsiaemwwn'ntIttn- essblbo fInsrhee pnaof ysit mpoe yocaae o fdb.s

eoI>acontraueodeiinr"easylach oJltl.g ghn-ppibpniu, o r ,o rti tpnp’sanei0i-earMauaf sanscdtBaabvo se ierrosu empp/spnpa

m eoto< ueutdt>oabe.ps JrreBnO r