Salesforce (CRM) Q2 2027 earnings summary

Executive summary

• Achieved record Q2 FY27 revenue of $11.35 billion, up 11% year-over-year, with strong growth in Agentforce, Data 360, and Slackbot adoption, and cRPO of $33.5 billion, up 14% year-over-year in constant currency.

• Non-GAAP EPS was $5.90, GAAP diluted EPS $4.29, and free cash flow for the trailing twelve months totaled $15.2 billion.

• Agentforce & Data 360 ARR reached nearly $3.9 billion, growing over 210% year-over-year, driven by Informatica Cloud and new AI offerings.

• Major customer wins and expansions included Booz Allen, Mercedes-Benz, FIFA World Cup 2026, Robinhood, and a multi-billion dollar U.S. Army contract.

• Announced Claudeforce, a new AI-CRM product in partnership with Anthropic, to be generally available at Dreamforce.

Financial highlights

• Q2 revenue: $11.35 billion, up 11% year-over-year; subscription and support revenue: $10.82 billion, up 12% year-over-year.

• Free cash flow: $1.1 billion, up 81% year-over-year; operating cash flow: $1.3 billion.

• GAAP operating margin: 20.5%; non-GAAP operating margin: 34.1%.

• Net income for Q2 FY27 was $3.53 billion, up from $1.89 billion a year ago.

• Total RPO at quarter-end was $66.3 billion, up 11% year-over-year.

Outlook and guidance

• FY27 revenue guidance raised to $46.1–$46.4 billion, reflecting organic growth and anticipated acquisitions (Contentful and Fin).

• Full-year GAAP operating margin guidance updated to 20.1%; non-GAAP margin maintained at 34.3%.

• Full-year diluted GAAP EPS guidance $10.21–$10.25; non-GAAP EPS $16.67–$16.71.

• Q3 FY27 revenue guidance set at $11.42–$11.5 billion, up 11–12% year-over-year; Q3 CRPO growth expected at ~14%.

• Guidance includes expected closing of Contentful and Fin acquisitions.