Salesforce Inc
Q2 2027 Earnings
GAAP diluted EPS of $4.29 includes $2.43 per share impact from $2,613 million in net gains on strategic investments (pre-tax, at 23.5% U.S. tax rate). Non-GAAP diluted EPS of $5.90 includes $2.53 per share impact from these same gains (at 20.5% non-GAAP tax rate).
Market Reaction
Did CRM Beat Earnings? Q2 2027 Results
Salesforce delivered a standout second quarter for fiscal year 2027, posting adjusted non-GAAP diluted EPS of $5.90 against a consensus estimate of $3.27, a beat of 80.36% that extended the company's streak of exceeding EPS expectations to six consecutive quarters. Revenue of $11.35 billion grew 10.8% year-over-year, edging past the $11.32 billion consensus, with subscription and support revenue reaching $10.82 billion, up 12% from a year ago. The headline EPS figure was meaningfully lifted by $2.61 billion in net gains on strategic investments, which contributed approximately $2.43 per share to GAAP diluted EPS of $4.29. The single biggest growth catalyst, however, was the company's AI portfolio; Agentforce and Data 360 combined ARR approached $3.90 billion, up over 210% year-over-year, underscoring the rapid enterprise adoption of agentic AI. Current RPO of $33.50 billion grew 14% year-over-year, and Salesforce raised its full-year revenue guidance by $200 million to a range of $46.10 billion to $46.40 billion, reflecting continued confidence in both organic momentum and contributions from pending acquisitions.
- cRPO growth accelerated to 14% Y/Y in constant currency, up from 13% in Q1
- Agentforce and Data 360 ARR nearly $3.9 billion, up over 210% Y/Y
- Agentforce ARR exceeded $1.5 billion, up over 240% Y/Y
- NNAOV growth strongest in four years
- 7.0 billion Agentic Work Units delivered to date, 3.2 billion in Q2 growing 97% Q/Q
- Informatica contributed $456 million to revenue in the quarter
- Significant share count reduction from $25B ASR (821M diluted shares vs. 962M a year ago)
“We just delivered one of our best quarters ever, outperforming across every key metric. AI is delivering value across every layer of our platform. We're seeing incredible demand for our AI and data products, with ARR about to cross $4 billion. And with AIforce, our trusted enterprise harness, we're unlocking the data, workflows, business logic, actions, and governance inside Salesforce and making it available to every agent, model, and interface. This is how we are turning AI into customer success at unprecedented scale.”
Salesforce CEO, on the earnings call
Forward Guidance & Outlook
Salesforce raised full-year FY27 revenue guidance by $200M ($300M in constant currency) to $46.1B-$46.4B, representing 11%-12% Y/Y growth and 11% in CC, including slightly above 3pts Informatica contribution. The $200M raise reflects $100M organic growth, $200M from pending Contentful and Fin acquisitions, and $100M FX headwind. Q3 FY27 revenue guidance initiated at $11.42B-$11.5B (11%-12% Y/Y growth). Full-year non-GAAP operating margin guidance maintained at 34.3%. Full-year GAAP operating margin guidance updated to 20.1%. Full-year non-GAAP diluted EPS guidance of $16.67-$16.71. Q3 non-GAAP diluted EPS guidance of $3.42-$3.44. Operating cash flow and free cash flow growth guidance maintained at approximately 4%-5% Y/Y. cRPO growth of approximately 14% Y/Y and in CC for Q3. The $25B ASR final settlement expected in October 2026. Acquisitions of Contentful and Fin expected to close in Q3 FY27.
CRM YoY Financials
CRM Revenue by Segment
CRM Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.