OpenNashEarnings

Salesforce (CRM) · Software

Salesforce Q1 FY2027 earnings: summary, key numbers & outlook

Results filed 27 May 2026 · Quarter ended 30 Apr 2026

Slides (27 pages)Official transcript (PDF) ↗Press release ↗Investor relations ↗

Summaries and transcripts are machine-generated and can contain errors.

In brief

Salesforce delivered first quarter revenue of $11.1 billion, up 13% Y/Y, with GAAP EPS $2.42, up 52% Y/Y and Non-GAAP EPS $3.88, up 50% Y/Y.

Salesforce reported first quarter fiscal 2027 revenue of $11.1 billion, up 13% from a year ago, including $444 million from the Informatica acquisition. GAAP operating margin was 21.1% and non-GAAP operating margin was 34.8%. Operating cash flow was $6.7 billion. The company spent $27.5 billion on shareholder returns, mostly share repurchases funded in part by new debt. Agentforce ARR reached $1.2 billion.

For the second quarter, management guides revenue of $11.27 billion to $11.35 billion, up 10% - 11% Y/Y. It raised the midpoint of full-year revenue guidance to $45.9 billion to $46.2 billion and expects organic revenue growth to accelerate in the second half. The main tension is that growth in the core Agentforce Apps business is only 7% in constant currency. Meanwhile, the $25 billion debt issuance for the buyback lifts interest costs and weighs on cash flow growth guidance.

Slides & documents

Open the slide deck (PDF, 27 pages) ↗

Salesforce Q1 FY2027 slide deck, page 1Salesforce Q1 FY2027 slide deck, page 2Salesforce Q1 FY2027 slide deck, page 3Salesforce Q1 FY2027 slide deck, page 4Salesforce Q1 FY2027 slide deck, page 5Salesforce Q1 FY2027 slide deck, page 6

Showing the first 6 of 27 pages.

From Salesforce investor relations

SEC filing

Key numbers

Total revenue · GAAP
$11.1 billion

up 13% Y/Y and 12% in CC

Net income · GAAP
$2.1B

Diluted net income per share · GAAP
$2.42

up 52% Y/Y

Non-GAAP diluted net income per share · non-GAAP
$3.88

up 50% Y/Y

GAAP income from operations · GAAP
$2.3B

GAAP operating margin · GAAP
21.1%

Non-GAAP operating margin · non-GAAP
34.8%

Operating cash flow · GAAP
$6.7 billion

up 3% Y/Y

Segment or metricValueChange
Current remaining performance obligation$33.6 billionup 14% Y/Y and 13% in constant currency
Subscription & support revenue$10.6 billionup 14% Y/Y and 12% in CC
Agentforce Apps revenue$6,9107% constant currency growth
Data 360, Headless Platform, & Other revenue3,68323% constant currency growth
Agentforce and Data 360 ARRnearly $3.4 billionup over 200% Y/Y
Agentforce ARR$1.2 billionup 205% Y/Y
Agentic Work Units delivered to date3.8 billiongrowing 111% Q/Q
Remaining performance obligation$67.9 billionup 11% Y/Y
Where each number comes from
  • Total revenue: “First quarter revenue of $11.1 billion, up 13% Y/Y and 12% in CC, including $444 million Informatica contribution”
  • Net income: “Provision for income taxes | (614) | (433) Net income | $2,107 | $1,541 Basic net income per share | $2.43 | $1.61”
  • Diluted net income per share: “First quarter GAAP diluted net income per share of $2.42, up 52% Y/Y and non-GAAP diluted net income per share of $3.88, up 50% Y/Y”
  • Non-GAAP diluted net income per share: “First quarter GAAP diluted net income per share of $2.42, up 52% Y/Y and non-GAAP diluted net income per share of $3.88, up 50% Y/Y”
  • GAAP income from operations: “Non-GAAP income from operations GAAP income from operations | $2,347 | $1,942 Plus: Amortization of purchased intangibles (1) | 561 | 395”
  • GAAP operating margin: “First quarter GAAP operating margin of 21.1% and non-GAAP operating margin of 34.8%”
  • Non-GAAP operating margin: “First quarter GAAP operating margin of 21.1% and non-GAAP operating margin of 34.8%”
  • Operating cash flow: “First quarter operating cash flow of $6.7 billion, up 3% Y/Y, and free cash flow of $6.6 billion, up 4% Y/Y”
  • Current remaining performance obligation: “Current remaining performance obligation of $33.6 billion, up 14% year-over-year ("Y/Y") and 13% in constant currency ("CC")”
  • Subscription & support revenue: “First quarter subscription & support revenue of $10.6 billion, up 14% Y/Y and 12% in CC, including $428 million Informatica contribution”
  • Agentforce Apps revenue: “Agentforce Apps | $6,910 | $6,345 Data 360, Headless Platform, & Other | 3,683 | 2,952 Total Subscription and Support Revenue | $10,593 | $9,297”
  • Data 360, Headless Platform, & Other revenue: “Agentforce Apps | $6,910 | $6,345 Data 360, Headless Platform, & Other | 3,683 | 2,952 Total Subscription and Support Revenue | $10,593 | $9,297”
  • Agentforce and Data 360 ARR: “Agentforce and Data 360 annual recurring revenue ("ARR") reaches nearly $3.4 billion, up over 200% Y/Y, including $1.1 billion Informatica Cloud ARR and $1.2 billion Agentforce ARR”
  • Agentforce ARR: “including $1.1 billion Informatica Cloud ARR and $1.2 billion Agentforce ARR, up 205% Y/Y”
  • Agentic Work Units delivered to date: “3.8 billion Agentic Work Units (“AWUs”) delivered to date across Agentforce and Slack, growing 111% quarter-over-quarter ("Q/Q")”
  • Remaining performance obligation: “Remaining performance obligation of $67.9 billion, up 11% Y/Y •First quarter subscription & support revenue of $10.6 billion”

Copied from the press release ↗ and other documents in the SEC filing ↗. A figure is published only if its sentence is in the filing.

From the filingQ1 FY2027vs year agovs last quarter
Revenue$11.1B+13.3%−0.6%
Operating income$2.3B+20.9%+25.6%
Net income$2.1B+36.7%+8.4%
Diluted EPS$2.42+52.2%—
Free cash flow$6.6B+4.1%+23.2%
Gross margin76.9%−0.1 pts−0.7 pts
Operating margin21.1%+1.3 pts+4.4 pts

Calculated by code from XBRL, not by the model.

Outlook

MetricPeriodOutlook
Revenuesecond quarter FY27$11.27 billion to $11.35 billion
GAAP diluted EPSsecond quarter FY27$1.74 - $1.76
Non-GAAP diluted EPSsecond quarter FY27$3.25 - $3.27
GAAP tax provisionthree months ended July 31, 2026approximately 21.5%
Revenuefull year FY27$45.9 billion to $46.2 billion
GAAP and non-GAAP operating marginfull year FY2720.6%
Non-GAAP operating marginfull year FY2734.3%
GAAP diluted EPSfull year FY27$7.93 - $7.99
Non-GAAP diluted EPSfull year FY27$14.06 - $14.12
Capital expendituresfull year FY27Approximately 1.5% of revenue
GAAP tax provisionyear ended January 31, 202722.0%
Operating cash flow and free cash flow growthfull year FY27approximately 4% - 5% Y/Y

Key takeaways

  1. Revenue grew 13% with Informatica contributing

    First quarter revenue was $11.1 billion, up 13% Y/Y and 12% in CC, including $444 million Informatica contribution. Subscription & support revenue was $10.6 billion.

  2. Data 360 outgrows core Agentforce Apps

    Data 360, Headless Platform, & Other grew 23% in constant currency, versus 7% for Agentforce Apps. Total subscription and support growth was 12% in constant currency.

  3. Agentforce ARR passes $1.2 billion

    Agentforce and Data 360 ARR reached nearly $3.4 billion, up over 200% Y/Y, including $1.2 billion Agentforce ARR, up 205% Y/Y. AWUs delivered reached 3.8 billion.

  4. Record buyback funded partly by new debt

    Salesforce returned $27.5 billion to shareholders, including $27.1 billion in share repurchases, and entered a $25 billion ASR. Noncurrent debt rose to $39,280 million from $10,439 million.

  5. Full-year revenue guidance midpoint raised

    Management now expects full year FY27 revenue of $45.9 billion to $46.2 billion and non-GAAP EPS of $14.06 - $14.12. Operating cash flow and free cash flow growth guidance is now approximately 4% - 5% Y/Y.

Charts

Revenue$11.1B+13.3% y/yQ1 FY27
Q3 FY25: $9.4BQ3 25$9.4BQ4 FY25: $10.0B (worked out from the annual figure)Q4 25$10.0BQ1 FY26: $9.8BQ1 26$9.8BQ2 FY26: $10.2BQ2 26$10.2BQ3 FY26: $10.3BQ3 26$10.3BQ4 FY26: $11.2B (worked out from the annual figure)Q4 26$11.2BQ1 FY27: $11.1BQ1 27$11.1BQ2 FY27: $11.3BQ2 27$11.3B

Fourth quarter worked out from the annual figure.

Data
Q3 FY25$9.4B
Q4 FY25$10.0B *
Q1 FY26$9.8B
Q2 FY26$10.2B
Q3 FY26$10.3B
Q4 FY26$11.2B *
Q1 FY27$11.1B
Q2 FY27$11.3B
Diluted EPS (GAAP)$2.42+52.2% y/yQ1 FY27
Q3 FY25: $1.58Q3 25$1.58Q1 FY26: $1.59Q1 26$1.59Q2 FY26: $1.96Q2 26$1.96Q3 FY26: $2.19Q3 26$2.19Q1 FY27: $2.42Q1 27$2.42Q2 FY27: $4.29Q2 27$4.29
Data
Q3 FY25$1.58
Q1 FY26$1.59
Q2 FY26$1.96
Q3 FY26$2.19
Q1 FY27$2.42
Q2 FY27$4.29

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin21.1%+1.3 pts y/yQ1 FY27
Q3 FY25: 20.0%Q3 2520.0%Q4 FY25: 18.2%Q4 2518.2%Q1 FY26: 19.8%Q1 2619.8%Q2 FY26: 22.8%Q2 2622.8%Q3 FY26: 21.3%Q3 2621.3%Q4 FY26: 16.7%Q4 2616.7%Q1 FY27: 21.1%Q1 2721.1%Q2 FY27: 20.5%Q2 2720.5%
Data
Q3 FY2520.0%
Q4 FY2518.2%
Q1 FY2619.8%
Q2 FY2622.8%
Q3 FY2621.3%
Q4 FY2616.7%
Q1 FY2721.1%
Q2 FY2720.5%
Free cash flow$6.6B+4.1% y/yQ1 FY27
Q3 FY25: $1.8BQ3 25$1.8BQ4 FY25: $3.8BQ4 25$3.8BQ1 FY26: $6.3BQ1 26$6.3BQ2 FY26: $605.0MQ2 26$605.0MQ3 FY26: $2.2BQ3 26$2.2BQ4 FY26: $5.3BQ4 26$5.3BQ1 FY27: $6.6BQ1 27$6.6BQ2 FY27: $1.1BQ2 27$1.1B
Data
Q3 FY25$1.8B
Q4 FY25$3.8B
Q1 FY26$6.3B
Q2 FY26$605.0M
Q3 FY26$2.2B
Q4 FY26$5.3B
Q1 FY27$6.6B
Q2 FY27$1.1B

Operating cash flow minus capital expenditure, from cash flow statements.

Questions

What were Salesforce's Q1 FY2027 results?

Revenue was $11.1 billion, up 13% Y/Y, with GAAP diluted EPS of $2.42 (up 52%) and non-GAAP diluted EPS of $3.88 (up 50%). GAAP operating margin was 21.1% and non-GAAP operating margin was 34.8%.

What is Salesforce's guidance for Q2 and the full year?

Q2 revenue is guided to $11.27 billion to $11.35 billion, with non-GAAP EPS of $3.25 - $3.27. Full year FY27 revenue is guided to $45.9 billion to $46.2 billion, with non-GAAP EPS of $14.06 - $14.12.

How is Agentforce performing?

Agentforce ARR reached $1.2 billion, up 205% Y/Y, and combined Agentforce and Data 360 ARR was nearly $3.4 billion. Agentic Work Units delivered reached 3.8 billion, growing 111% Q/Q.

How much cash did Salesforce return to shareholders and how was it funded?

It returned $27.5 billion, including $27.1 billion of share repurchases and $365 million of dividends, and entered a $25 billion ASR. The cash flow statement shows $24,842 million of debt issuance proceeds in the quarter.

What are the main risks or pressures on the outlook?

Core Agentforce Apps revenue grew only 7% in constant currency, and management is counting on second-half organic acceleration. Interest expense rose to $317 million from $68 million, and the debt for the ASR is cutting full-year cash flow growth guidance to approximately 4% - 5%.