Salesforce Inc. reported quarterly revenue that topped analysts’ estimates, boosting investor hopes that the company’s much-hyped strategy for artificial intelligence products will lift financial results.

Revenue will be $9.9 billion to $10.1 billion in the current quarter ending in January, in line with analysts’ estimates. Current remaining performance obligation, a measure of booked sales, will expand about 9%, compared with a 9.2% increase expected by analysts.

Look, there's been a change in terms of the direction that's been coming through for the last few months for Salesforce in terms of the job cuts, the efficiencies. They were under pressure from some of their investors to do that.

Salesforce has signed a “good number” of deals related to Agentforce, Executive Vice President Mike Spencer said in an interview after the earnings release. Still, these deals are largely initial roll-outs and will take time to show up in the company’s results,

Salesforce beat Wall Street expectations for third-quarter revenue on Tuesday and raised the lower end of its annual revenue forecast, helped by robust spending on its enterprise cloud portfolio.The company's shares rose more than 3 per cent to $342 in extended trading.