EarningsQ2 2027 Earnings Report

Salesforce (FOO) Q2 2027 Earnings Report

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Previous Report: Q1 2027

DE:FOO Q2 2027 EPS Results

Actual EPS€5.08

Consensus EPS€2.81

Beat/MissBeat by +€2.26

One Year Ago EPS€2.50

DE:FOO Q2 2027 Revenue Results

Actual Revenue€9.76B

Expected Revenue€9.75B

Beat/MissBeat by +€12.64M

YoY Revenue Growth+10.83%

Earnings Announcement Details

QuarterQ2 2027

Date08/26/2026

TimeAfter Close

Conference CallWednesday, August 26, 2026

DE:FOO Upcoming Earnings

Salesforce's next earnings date is estimated for December 2, 2026, based on past reporting schedules.

Q2 2027 Earnings Call Audio

DE:FOO Q2 2027 Earnings Call

0:00 / 0:00

Q2 2027 Earnings Slide Deck

Q2 2027 Earnings Call Summary

Q2 2027

Earnings Call Date:Aug 26, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented broad, measurable commercial and operational progress across revenue, cash flow, AI/Agentforce adoption, Slack momentum and large customer wins. Management raised FY guidance and highlighted accelerating consumption metrics (cRPO, AWUs, Agentforce ARR) and improving contract economics. Challenges cited were concentrated in license revenue volatility, early-stage monetization of headless offerings, and pockets of uneven marketing recovery and adoption — but these are outweighed by the magnitude of adoption and monetization opportunities (flexible pricing, packaged agents, major contracts like the U.S. Army). Overall, highlights significantly outweigh lowlights, signaling constructive momentum as Salesforce transitions to agentic, headless and multi-surface delivery.

Company Guidance

Management raised FY‑27 revenue guidance by about $300 million in constant currency (roughly $100M organic plus ~$200M expected from the anticipated Contentful and Fin closings) to $46.1–$46.4 billion (now including a ~$100M FX headwind), held non‑GAAP operating margin at ~34.3% and updated GAAP operating margin to ~20.1%, and expects operating and free cash flow to grow ~4–5% year‑over‑year; they guided Q3 revenue to $11.42–$11.50 billion (≈11–12% CC growth) with Q3 cRPO growth of ~14% YoY CC. These targets follow Q2 results of $11.35B revenue (+11% YoY), subscription & support $10.82B (+12% YoY nominal, +11% CC), cRPO $33.5B (+14% CC), and $1.1B free cash flow (+81% YoY), and lean on strong AI/consumption momentum (Agentforce ARR $1.5B, AI/data ARR near $4B, 3.2B AWUs in Q2 up 97% Q/Q, Slackbot 1M active users up 150% Q/Q, agentic calls ~6x, and A1E/A4X bookings more than doubled Q/Q).

Strong Quarterly Revenue and Subscription Performance

Q2 revenue of $11.35B, up 11% year-over-year; subscription and support revenue $10.82B, up 12% nominal (11% in constant currency), above the high end of guidance.

Accelerating cRPO and Bookings Momentum

cRPO reached $33.5B, accelerating ~14% year-over-year in constant currency, 1 point above guidance, reflecting strong bookings and low attrition.

Material Free Cash Flow Improvement

Generated $1.1B in free cash flow in the quarter, up 81% year-over-year, supporting an active $25B accelerated share repurchase program.

Agentforce and AI ARR/Adoption Growth

Agentforce ARR reached $1.5B; AI and data ARR approaching $4B. Agentic usage (model context protocol and CLI calls) surged ~6x, and the number of accounts with agents in production grew ~70% quarter-over-quarter.

Consumption Metrics and Slack Momentum

Customers drove 3.2 billion AWUs in Q2 (up ~97% quarter-over-quarter). Slackbot adoption grew rapidly (1M active users 5 months after launch; users up ~150% Q/Q) and Slack net new AOV posted its fastest quarterly growth since acquisition.

Customer & Enterprise Wins and Large Contracts

New and expanded wins include Deutsche Telekom, FIFA, NTT Data, Cisco and a multibillion-dollar expansion with the U.S. Army (Army expects up to 55M Agentforce conversations per month). Agentforce IT service has 450+ customers; Agentforce Life Sciences has 140+ customers.

Customer Case Studies Showing Measurable Outcomes

Xero reported a 62% deflection rate with Agentforce (over 200k interactions and tens of thousands monthly interactions) while an AI SDR increased email open rates ~3x and boosted lead generation. Replit scaled Agentforce seats from 75 to 300 and is pursuing $1B ARR.

Operational Indicators — Low Attrition and Improved Contract Terms

Customer attrition was near its lowest level ever and contract lengths/terms improved across new business and renewals; A1E and A4X bookings more than doubled Q/Q, indicating upsell/upgrade traction.

Headless / Interface Strategy & Product Momentum

Headless offerings and AIforce/Claudeforce (partnership with Anthropic) expand surfaces where Salesforce delivers value (Slack, Cowork/Claudeforce, other UIs). Customers increasingly deploy headless UIs that read Salesforce data into Slack and other interfaces.

Commercial Pricing Flexibility and New Monetization Paths

Salesforce introduced premium bundles, flexible pricing (user/consumption/outcome-based and ILA/Flex Credits) and is seeing bookings from Agentforce One Edition and Agentforce for apps more than double Q/Q, enabling multiple monetization models.

DE:FOO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Dec 02, 2026	2027 (Q3)	2.96 / -	2.797	―
Aug 26, 2026	2027 (Q2)	2.81 / 5.08	2.504	102.75% (+2.57)
May 27, 2026	2027 (Q1)	2.69 / 3.34	2.22	50.39% (+1.12)
Feb 25, 2026	2026 (Q4)	2.62 / 3.28	2.392	37.05% (+0.89)
Dec 03, 2025	2026 (Q3)	2.46 / 2.80	2.074	34.85% (+0.72)
Sep 03, 2025	2026 (Q2)	2.39 / 2.50	2.203	13.67% (+0.30)
May 28, 2025	2026 (Q1)	2.19 / 2.22	2.1	5.74% (+0.12)
Feb 26, 2025	2025 (Q4)	2.25 / 2.39	1.971	21.40% (+0.42)
Dec 03, 2024	2025 (Q3)	2.10 / 2.07	1.816	14.22% (+0.26)
Aug 28, 2024	2025 (Q2)	2.03 / 2.20	1.824	20.75% (+0.38)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed