Earnings Call
May 27, 2026
Q2 FY2026
EPS Estimate
3.12
EPS Actual
3.11
Post-Earnings Close
$176.17
Earnings Reaction
-0.8%
Salesforce's Q2 FY2026 results came in ahead of expectations on most key metrics, but the headline numbers were arguably secondary to the strategic narrative management is building around what it calls the 'agentic enterprise.' Revenue of $10.24 billion grew 10% year over year (9% in constant currency), modestly above the guided range of $10.24, $10.29 billion, with Robin Washington noting the beat was driven partly by one-time license revenue and professional services recognition alongside strong execution. Non-GAAP operating margin expanded 60 basis points to 34.3%, marking a tenth consecutive quarter of margin improvement. CRPO came in at $29.4 billion, up 11% year over year, also ahead of expectations, driven by strength in SMB and large deal activity. The company raised the low end of full-year revenue guidance to $41.1, $41.3 billion and lifted operating cash flow growth guidance to 12, 13%, implying nearly $15 billion in operating cash flow for the year, a figure management described as a significant raise.
Report generated on May 26, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
Read the full CRM analysis
The complete report, with key themes, analyst Q&A summary, notable quotes, and market context — is free with an account. No password, no card.