Companies /Technology

Salesforce Inc

NYSE: CRM Software - Application
$249.12
▼ $10.11 (−3.90%) today
Markets closed · 9:34pm ET

Q4 2025 Earnings

Reported Feb 26, 2025, 4:03pm ET · SEC source
$2.78
Beat +6.43%
EPS · est. $2.61
$10.0B
Miss −0.42%
Revenue · est. $10.0B
−4.6%
Trailing market
CRM vs S&P since report
7 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+3%+6%Feb 26Feb 27report 4:03pm ETearnings−1.6%+2.6%
0+3%+6%Feb 26Feb 27earnings−1.6%+2.6%
CRM +2.6%S&P 500 −1.6%
0+4%+8%Feb 26Feb 27report 4:03pm ETearnings−2.7%+2.6%
0+4%+8%Feb 26Feb 27earnings−2.7%+2.6%
CRM +2.6%NASDAQ −2.7%
−4%0+4%Feb 25Mar 6report 4:03pm ETearnings−3.6%−4.3%
−4%0+4%Feb 25Mar 6earnings−3.6%−4.3%
CRM −4.3%S&P 500 −3.6%
−4%0+4%Feb 25Mar 6report 4:03pm ETearnings−4.9%−4.3%
−4%0+4%Feb 25Mar 6earnings−4.9%−4.3%
CRM −4.3%NASDAQ −4.9%
−4.04%
Day of report
+1.00%
Next session
−3.00%
One week
−9.00%
30 days

S&P 500 over the same 30 days: −4.39%.

Did CRM Beat Earnings? Q4 2025 Results

Salesforce closed out its fiscal fourth quarter with a profit beat that overshadowed a narrow revenue shortfall, as the enterprise software giant posted non-GAAP diluted EPS of $2.78, ahead of the $2.61 consensus estimate by 6.43%, while revenue of $9.99 billion came in just 0.42% below expectations but still represented 7.6% growth year over year. The key driver behind the margin-fueled profit beat was continued operating leverage, with non-GAAP operating margin expanding to 33.1% from 31.4% a year ago, and GAAP net income climbing to $1.71 billion from $1.45 billion. A central theme in the quarter was the rapid traction of Agentforce, Salesforce's AI agent platform, which closed 5,000 deals since October, including more than 3,000 paid engagements, and recently expanded its capabilities through a partnership with Google's Gemini AI. Looking ahead, the company guided FY26 revenue of $40.50 billion to $40.90 billion and non-GAAP EPS of $11.09 to $11.17, projecting continued margin improvement to 34.0%.

Key Takeaways
  • Subscription and support revenue growth of 8% Y/Y (9% in constant currency)
  • Non-GAAP operating margin expansion to 33.1% from 31.4% Y/Y in Q4
  • Operating cash flow growth of 28% Y/Y for full fiscal year
  • Strong Agentforce and Data Cloud adoption driving AI momentum
  • Nearly half of Fortune 100 are both AI & Data Cloud customers
  • Total RPO of $63.4 billion, up 11% Y/Y

“We had an incredible quarter and year, with strong performance across all our key metrics, including the highest cash flow in our company's history and more than $60 billion in RPO.”

Salesforce CEO, on the earnings call

Forward Guidance & Outlook

For FY26, Salesforce guided total revenue of $40.5 billion to $40.9 billion, representing 7%-8% Y/Y growth. Subscription & support revenue growth is expected at approximately 8.5% Y/Y (~9% in constant currency). The company expects GAAP operating margin of 21.6% and non-GAAP operating margin of 34.0%. Operating cash flow growth is guided at approximately 10%-11% Y/Y. Non-GAAP diluted EPS is expected at $11.09 to $11.17 for the full year. For Q1 FY26, revenue is expected at $9.71 billion to $9.76 billion (6%-7% Y/Y growth, 7% in constant currency), with non-GAAP diluted EPS of $2.53 to $2.55 and current RPO growth of approximately 10% Y/Y.

CRM YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$3.0B$6.0B$9.0B$9.3B$10.0BRevenue$7.1B$7.8BGross Profit$1.6B$1.8BOperating Income$1.4B$1.7BNet Income
$0$3.0B$6.0B$9.0BRevenueGross ProfitOperating IncomeNet Income

CRM Revenue by Segment

Service$2.3B+9.0%
Sales$2.1B+9.0%
Integration and Analytics$1.7B+6.0%
Marketing and Commerce$1.4B+8.0%
Professional Services$542.0M

CRM Revenue by Geography

Americas$6.7B+8.0%
Europe$2.3B+7.0%
Asia Pacific$999.0M+14.0%

Figures from SEC filings and company reports. Not investment advice.