Jul 2026 (Q2 FY27) — Aug 26, 2026
Salesforce Q2 FY27 — AI-Driven Growth and Record Performance
Read the full callSalesforce (CRM) earnings
- Jul 2026
- Jul 2026 (Q2 FY27)
- Jan 2026
Salesforce earnings: last reported Wed, 26 Aug 2026, for the quarter ended Jul 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 11,345 | +10.8% YoY | Quarterly, as filed | Quarter to Jul 2026 | Revenue from operations as filed. |
| Operating margin | 20.6 | −2.2 pts YoY | Operating profit / revenue | Quarter to Jul 2026 | For the quarter; a change is in percentage points. |
| Net profit | 3,526 | +86.9% YoY | Quarterly, as filed | Quarter to Jul 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
31 of 33 judged targets kept · 36 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Fiscal 2026 engineering hiring | not going to hire any new engineers this year | Jan 2025 | he's got what about 15,000 engineers, and you've had the 15,000 engineers for about 2 years, it's been mostly flat | Achieved |
| Fiscal 2027 GAAP operating margin | 20.9% | Jan 2026 | adjusting our GAAP operating margin guidance to 20.6%, largely driven by higher restructuring | Revised Down |
| Customer support employees redeployed to data and AI roles | redeploy 500 customer support employees by year-end, driving $50 million in savings | Apr 2025 | Pending |
2 of Salesforce, Inc.'s 69 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 66 more targets are in the full ledger.
Claimed
- Record Q2 revenue of $11.35 billion, up 11% year-over-year, exceeding guidance.
- Free cash flow reached $1.1 billion, an 81% increase year-over-year.
- CRPO accelerated to $33.5 billion, up 14% in constant currency, beating guidance by 1 point.
- Agentforce ARR hit $1.5 billion, with AI and data ARR approaching $4 billion.
- Net new AOV growth was the strongest in 4 years, and attrition was near its lowest level ever.
Qualified
- FY27 revenue guidance includes a $100 million FX headwind compared to prior guidance.
- Continued volatility in overall license revenue partially offset growth in other areas.
Price
$242.45 +0.73% · +$1.75
Performance −0.3% 1Y
1Y: $243.08 on 17 Oct 2025 → $242.45. High $266.23 (29 Dec 2025), low $150.12 (22 Jun 2026).
- Previous close
- $240.7
- 52-week range
- $150.12 – $266.23
- One year
- −4.65%
Overview
- Symbol
- CRM
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
31 of 33 judged targets kept · 36 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Fiscal 2026 engineering hiring | not going to hire any new engineers this year | Jan 2025 | he's got what about 15,000 engineers, and you've had the 15,000 engineers for about 2 years, it's been mostly flat | Achieved |
| Fiscal 2027 GAAP operating margin | 20.9% | Jan 2026 | adjusting our GAAP operating margin guidance to 20.6%, largely driven by higher restructuring | Revised Down |
| Customer support employees redeployed to data and AI roles | redeploy 500 customer support employees by year-end, driving $50 million in savings | Apr 2025 | Pending |
Claimed
- Record Q2 revenue of $11.35 billion, up 11% year-over-year, exceeding guidance.
- Free cash flow reached $1.1 billion, an 81% increase year-over-year.
- CRPO accelerated to $33.5 billion, up 14% in constant currency, beating guidance by 1 point.
- Agentforce ARR hit $1.5 billion, with AI and data ARR approaching $4 billion.
- Net new AOV growth was the strongest in 4 years, and attrition was near its lowest level ever.
Qualified
- FY27 revenue guidance includes a $100 million FX headwind compared to prior guidance.
- Continued volatility in overall license revenue partially offset growth in other areas.
The full ledger
Open Salesforce, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 69 tracked commitments, with each call’s wording and source.
Call summaries
Apr 2026 (Q1 FY27) — May 27, 2026
Salesforce Q1 FY27 — record revenue and cash flow as Agentforce ARR crosses $1B
Read the full callJan 2026 (Q4 FY26) — Feb 25, 2026
Salesforce Q4 FY26 — Agentic Enterprise Vision Drives Strong Performance
Read the full callEvery analysed call
Salesforce earnings calls (CRM)
Financials
What the filings say
Net profit, year on year: +87% (quarter to jul 2026 against jul 2025).
| Line item | Oct 2024 | Jan 2025 | Apr 2025 | Jul 2025 | Oct 2025 | Jan 2026 | Apr 2026 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 9,444 | 9,993 | 9,829 | 10,236 | 10,259 | 11,201 | 11,133 | 11,345 |
| Operating profit | 1,893 | 1,820 | 1,942 | 2,332 | 2,188 | 1,869 | 2,347 | 2,331 |
| Operating margin | 20.0% | 18.2% | 19.8% | 22.8% | 21.3% | 16.7% | 21.1% | 20.6% |
| Interest | — | — | 68 | 67 | — | — | 317 | 473 |
| Profit before tax | 1,746 | 1,988 | 1,974 | 2,406 | 2,512 | 2,628 | 2,721 | 4,552 |
| Tax rate | 12.5% | 14.1% | 21.9% | 21.6% | 17.0% | 26.1% | 22.6% | 22.5% |
| Net profit | 1,527 | 1,708 | 1,541 | 1,887 | 2,086 | 1,943 | 2,107 | 3,526 |
| EPS ($ per share) | 1.60 | — | 1.61 | 1.97 | 2.20 | — | 2.43 | 4.30 |
| Line item | Jan 2019 | Jan 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 1,735 | 1,861 | 5,933 | 7,377 | 7,585 | 11,721 | 16,369 | 22,221 |
| Total liabilities | 15,132 | 21,241 | 24,808 | 37,078 | 40,490 | 40,177 | 41,755 | 53,163 |
| Fixed assets | 2,051 | 2,375 | 2,459 | 2,815 | 3,702 | 3,689 | 3,236 | 3,120 |
| Total assets | 30,737 | 55,126 | 66,301 | 95,209 | 98,849 | 99,823 | 102,928 | 112,305 |
| Line item | Jan 2019 | Jan 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 3,398 | 4,331 | 4,801 | 6,000 | 7,111 | 10,234 | 13,092 | 14,996 |
| Cash from investing | -5,308 | -2,980 | -3,971 | -14,536 | -1,989 | -1,327 | -3,163 | -8,590 |
| Cash from financing | 2,010 | 164 | 1,194 | 7,838 | -3,562 | -7,477 | -9,429 | -8,079 |
| Net cash flow | 126 | 1,476 | 2,050 | -731 | 1,552 | 1,456 | 376 | -1,521 |
| Capital expenditure | -595 | -643 | -710 | -717 | -798 | -736 | -658 | -594 |
| Free cash flow | 2,803 | 3,688 | 4,091 | 5,283 | 6,313 | 9,498 | 12,434 | 14,402 |
CRM revenue by segment
Professional Services and Other shrank from 6% to 5% of revenue over the last two years.
| Segment | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | Q2 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Agentforce Apps | — | — | — | — | — | — | 62% | 63% | — |
| Data 360 Platform and Other | — | — | — | — | — | — | 33% | 32% | — |
| Professional Services and Other | 6% | 5% | 5% | 5% | 5% | 5% | 5% | 5% | -3.8% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CRM operating KPIs by quarter
| KPI | Jan 2025 Q4 FY25 | Apr 2025 Q1 FY26 | Oct 2025 Q3 FY26 | Jan 2026 Q4 FY26 | Apr 2026 Q1 FY27 | Jul 2026 Q2 FY27 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Remaining performance obligation (RPO) | — | $60.9BWe have $60.9 billion in RPO, up 13% year-over-year, and we had exceptional performance with cRPO growing 11% year-over-year in constant currency.Source: earnings call transcript | <$60BMiguel is going to talk about this great quarter we had -- the best quarter, I think we've had actually in 3 years and 11% in constant currency and RPO is nearly $60 billion, growing 12% year-over-year.Source: earnings call transcript | $72BWe had $11.2 billion in revenue for the fourth quarter, up 12% year-over-year, 10% in constant currency rose to $35.1 billion, up 16% year-over-year and 13% in constant currency, and we passed an incredible milestone with $72 billion in total RPO, which is up 14% year-over-year.Source: earnings call transcript | — | — | — |
| Remaining performance obligation (RPO) Current | $30.2BCurrent RPO, or cRPO, ended at $30.2 billion, an increase of 9% year-over-year in nominal currency.Source: earnings call transcript | $29.6BCurrent remaining performance obligation, or cRPO, ended Q1 at $29.6 billion, up 12% year-on-year in nominal and 11% in constant currency, which is better than expected, driven by strong renewal performance.Source: earnings call transcript | — | $35.1BOur current remaining performance obligation, or CRPO, ended Q4 at $35.1 billion, which was up approximately 16% year-over-year in nominal and 13% in constant currency, driven by strong net new AOV, especially in agent force, Data 360, Slack and sales.Source: earnings call transcript | $33.6BcRPO $33.6 billion, up approximately 14% nominal and 13% in constant currency.Source: earnings call transcript | $33.5BCRPO accelerated quarter-over-quarter, with $33.5 billion, up 14% in constant currency, that's 1 point ahead of our guide, driven by strength in Slack, Agentforce and Data 360.Source: earnings call transcript | -0.3% |
| Customers Agentforce | 3,000And that's why just 90 days after it went live, we've already had 3,000 paying Agentforce customers who are experiencing unprecedented levels of productivity, efficiency and cost and cost savings.Source: earnings call transcript | 4,000I think we've got 4,000 paid Agentforce customers, is $100 million in Agentforce ARR, $1 billion and more than Data Cloud and Agentforce ARR.Source: earnings call transcript | — | — | — | — | +33.3% |
| Annual recurring revenue (ARR) Agentforce | — | $100MI think we've got 4,000 paid Agentforce customers, is $100 million in Agentforce ARR, $1 billion and more than Data Cloud and Agentforce ARR.Source: earnings call transcript | ~$540MAgentforce and Data reached nearly $1.4 billion in ARR in the quarter, up 114% year-over-year, including Agentforce ARR of about $540 million, 330% year-over-year.Source: earnings call transcript | ~$800MThis includes Informatica Cloud ARR of $1.1 billion an agent force ARR of approximately $800 million, which is up 169% year-over-year.Source: earnings call transcript | — | $1.5BAgentforce ARR, it hit $1.5 billion.Source: earnings call transcript | — |
| Employees Account Executives | — | 13KToday, we have 13,000 AEs.Source: earnings call transcript | ~15KAnd I think all of our account executives, [indiscernible] I think we've got about 15,000, I don't know what the exact numbers out there are all selling this now.Source: earnings call transcript | 15KWe've never sold or had so much ACV in our history in the fourth quarter because not only does he have 15,000 account executives.Source: earnings call transcript | — | 15KOur ARR for AI and data is about to cross $4 billion, really helps, I guess, that we have 15,000 peer account executives, Miguel.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2027 · share of revenue
- Americas 65% ↓ 1 pt
- Europe 24% ↑ 1 pt
- Asia Pacific 10%
As CRM cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
250 filings between Oct 20, 2025 and Sep 22, 2026.
Open market
decisions to buy or sellPurchases
$27.52M
6 purchases by 3 insiders
Sales
$39.51M
70 sales by 4 insiders
96% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 5
- Award — granted as compensation
- 106
- Option exercise — converted options into shares
- 62
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Harris Parker | — | $31.61M | Dec 2, 2025 |
| Morfit G Mason | $25.02M | — | Dec 5, 2025 |
| Benioff Marc | — | $5.80M | Nov 3, 2025 |
| Kirk David Blair | $2.00M | — | Sep 18, 2026 |
| Conway Craig | — | $1.17M | Sep 4, 2026 |
| KROES NEELIE | — | $929.3K | Jan 14, 2026 |
| ALBER LAURA | $500.3K | — | Mar 19, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 22, 2026 | Milano Miguel President and COO | Option exercise | 1,526 | $0 |
| Sep 22, 2026 | Niles Sabastian President and CLO | Option exercise | 1,015 | $0 |
| Sep 22, 2026 | Harris Parker Co-Founder | Option exercise | 1,272 | $0 |
| Sep 22, 2026 | Milano Miguel President and COO | Tax withheld | 400 | $93.3K |
| Sep 22, 2026 | Washington Robin L President and COFO | Tax withheld | 908 | $211.8K |
| Sep 22, 2026 | Milano Miguel President and COO | Tax withheld | 601 | $140.2K |
| Sep 22, 2026 | Niles Sabastian President and CLO | Option exercise | 1,017 | $0 |
| Sep 22, 2026 | Harris Parker Co-Founder | Tax withheld | 631 | $147.2K |
| Sep 22, 2026 | Niles Sabastian President and CLO | Tax withheld | 562 | $131.1K |
| Sep 22, 2026 | Milano Miguel President and COO | Option exercise | 1,015 | $0 |
| Sep 22, 2026 | Harris Parker Co-Founder | Option exercise | 1,269 | $0 |
| Sep 22, 2026 | Washington Robin L President and COFO | Option exercise | 1,831 | $0 |
| Sep 22, 2026 | Harris Parker Co-Founder | Tax withheld | 630 | $147.0K |
| Sep 22, 2026 | Niles Sabastian President and CLO | Tax withheld | 563 | $131.3K |
| Sep 18, 2026 | Kirk David Blair Director | Purchase | 4,176 | $999.5K |
| Sep 15, 2026 | Niles Sabastian President and CLO | Tax withheld | 8,873 | $2.27M |
| Sep 15, 2026 | Milano Miguel President and COO | Tax withheld | 6,535 | $1.67M |
| Sep 4, 2026 | Conway Craig Director | Sale | 1,418 | $369.4K |
| Sep 4, 2026 | Conway Craig Director | Sale | 3,082 | $803.4K |
| Aug 28, 2026 | Harris Parker Co-Founder and CTO, Slack | Gift 10b5-1 plan | 16,000 | $0 |
| Aug 22, 2026 | KROES NEELIE Director | Option exercise | 441 | $0 |
| Aug 22, 2026 | Conway Craig Director | Option exercise | 441 | $0 |
| Aug 22, 2026 | Milano Miguel President and COO | Tax withheld | 678 | $141.8K |
| Aug 22, 2026 | Milano Miguel President and COO | Option exercise | 1,662 | $0 |
| Aug 22, 2026 | ALBER LAURA Director | Option exercise | 441 | $0 |
| Aug 22, 2026 | Chang Amy Director | Option exercise | 441 | $0 |
| Aug 22, 2026 | Niles Sabastian President and CLO | Tax withheld | 920 | $192.4K |
| Aug 22, 2026 | Niles Sabastian President and CLO | Option exercise | 1,662 | $0 |
| Aug 22, 2026 | Roos John Victor Director | Option exercise | 441 | $0 |
| Aug 22, 2026 | SACHIN J. MEHRA Director | Option exercise | 441 | $0 |
| Aug 22, 2026 | MUNOZ OSCAR Director | Option exercise | 441 | $0 |
| Aug 22, 2026 | Kirk David Blair Director | Option exercise | 441 | $0 |
| Aug 22, 2026 | DONALD ARNOLD W Director | Option exercise | 441 | $0 |
| Aug 22, 2026 | KROES NEELIE Director | Tax withheld | 67 | $14.0K |
| Jul 22, 2026 | Harris Parker Co-Founder and CTO, Slack | Option exercise | 1,786 | $0 |
| Jul 22, 2026 | Tallapragada Srinivas Chief Eng/Cust Success Officer | Tax withheld | 886 | $144.4K |
| Jul 22, 2026 | Tallapragada Srinivas Chief Eng/Cust Success Officer | Option exercise | 1,786 | $0 |
| Jul 22, 2026 | Harris Parker Co-Founder and CTO, Slack | Tax withheld | 886 | $144.4K |
| Jun 22, 2026 | Niles Sabastian President and CLO | Option exercise | 1,017 | $0 |
| Jun 22, 2026 | Niles Sabastian President and CLO | Tax withheld | 562 | $84.4K |
| Jun 22, 2026 | Niles Sabastian President and CLO | Option exercise | 1,016 | $0 |
| Jun 22, 2026 | Washington Robin L President and COFO | Tax withheld | 908 | $136.3K |
| Jun 22, 2026 | Washington Robin L President and COFO | Option exercise | 1,831 | $0 |
| Jun 22, 2026 | Harris Parker Co-Founder and CTO, Slack | Tax withheld | 631 | $94.7K |
| Jun 22, 2026 | Harris Parker Co-Founder and CTO, Slack | Tax withheld | 630 | $94.6K |
| Jun 22, 2026 | Harris Parker Co-Founder and CTO, Slack | Option exercise | 1,271 | $0 |
| Jun 22, 2026 | Harris Parker Co-Founder and CTO, Slack | Option exercise | 1,269 | $0 |
| Jun 22, 2026 | Milano Miguel President and CRO | Tax withheld | 601 | $90.2K |
| Jun 22, 2026 | Milano Miguel President and CRO | Option exercise | 1,525 | $0 |
| Jun 22, 2026 | Niles Sabastian President and CLO | Tax withheld | 563 | $84.5K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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