Salesforce said Wednesday that it expects its annual revenue to surpass $60 billion by 2030, a target that outpaces Wall Street’s consensus of around $58.37 billion. The announcement came during its Dreamforce event, where the company highlighted aggressive expansion of AI features across its cloud services as a key driver.

The forecast excludes the financial impact of its planned $8 billion acquisition of Informatica, which is intended to strengthen Salesforce’s data and integration capabilities. Meanwhile, Salesforce also revealed plans for a $7 billion share buyback in the next six months to boost shareholder value.

While the long-term outlook is ambitious, Salesforce’s near-term results have shown signs of pressure. In September, it lowered its Q3 revenue guidance below analyst expectations, underscoring challenges in monetizing its AI platform amid cautious customer spending.

Investors welcomed the new target: Salesforce’s share price rose nearly 4% in after-hours trading. But with the stock down roughly 29% so far this year, the company faces the significant task of proving the growth is achievable.

Source: Reuters.