Key Highlights

● Quarterly revenue was $11.345 billion, up 11% from $10.236 billion a year earlier.

● Agentforce and Data 360 annual recurring revenue reached nearly $3.9 billion, up over 210%.

● Informatica added $456 million of revenue, so growth excluding the acquisition is lower than reported.

● Full-year revenue guidance is $46.1 billion to $46.4 billion.

Agentic software moves into the figures

Salesforce, Inc. (NYSE:CRM) announced results for its second quarter of fiscal 2027 on 26 August 2026, and the release put numbers on its artificial intelligence strategy. Agentforce and Data 360 annual recurring revenue reached nearly $3.9 billion, up more than 210% year on year, with Agentforce alone above $1.5 billion. Total quarterly revenue was $11.345 billion, up 11%, which gives context for how large the newer products are against the established base. Chief executive Marc Benioff described it as one of the company's best quarters, though the figures include acquired revenue.

Business and sector position

Salesforce provides customer relationship management software delivered as a subscription service, covering sales, service, marketing, commerce, analytics and integration through its Slack and MuleSoft products. Agentforce is its platform for autonomous software agents, and Data 360 is the data layer that supports them. The company competes with large enterprise software groups and specialist vendors, and it has used acquisitions, including Informatica, to widen its data and integration offering. Its customers are mostly businesses that run front-office operations on its cloud applications, so spending decisions often follow wider corporate technology budgets and the pace of enterprise artificial intelligence adoption.

What the latest report showed

For the quarter ended 31 July 2026, subscription and support revenue was $10.820 billion, up 12%, while professional services and other contributed $525 million. Informatica added $456 million to total revenue, of which $440 million sat in subscription and support. Current remaining performance obligation was $33.5 billion, up 14%, and total remaining performance obligation was $66.3 billion, up 11%. Salesforce said agentic work units reached 7.0 billion to date, with 3.2 billion in the quarter. Data 360 ingested 104 trillion records in the quarter, up 355% year on year, which indicates how much information is flowing through the platform that agents depend upon.

Financial performance and context

GAAP operating margin was 20.5% and non-GAAP operating margin was 34.1%. GAAP net income was $3.526 billion, compared with $1.887 billion a year earlier, and GAAP diluted earnings per share were $4.29. Non-GAAP diluted earnings per share were $5.90. Operating cash flow was $1.269 billion, up 71%, and free cash flow was about $1.1 billion after $171 million of capital expenditure. Salesforce paid $364 million in dividends and repurchased $84 million of shares, and said a $25 billion accelerated repurchase should finally settle in October 2026. Total revenue compared with $10.236 billion a year earlier. Across the industry, enterprise software vendors are racing to show that agent products can add to subscription revenue rather than simply reshuffle it.

Risks and uncertainties

Informatica added $456 million to total revenue, so growth excluding the acquisition is lower than the reported 11%. Customers may adopt agent-based products more slowly than management hopes, and pricing for such products is still evolving. Competition from other enterprise software vendors and from model developers selling directly to businesses is intense. Guidance excludes the pending Contentful and Fin acquisitions, so completion and integration add further uncertainty to the forecasts.

Guidance and settlement ahead

For the third quarter of fiscal 2027, Salesforce guides to revenue of $11.42 billion to $11.50 billion, up 11% to 12%, and current remaining performance obligation growth of about 14% at constant currency. For the full year it guides to revenue of $46.1 billion to $46.4 billion and a non-GAAP operating margin of 34.3%. Also in focus are the October settlement of the accelerated repurchase, further disclosure of Agentforce revenue, and progress on the Contentful and Fin transactions. Full-year operating cash flow and free cash flow are each expected to grow roughly 4% to 5%, which is slower than the revenue outlook and worth monitoring.