Salesforce delivered a solid QQ2 2026 performance anchored by top-line strength and margin expansion, underscored by the rapid adoption of AI-enabled capabilities and the agentic enterprise framework. Revenue reached $10.236 billion, up 10% year-over-year (nominal) and 9% in constant currency, with non-GAAP operating margin at 34.3% and CRPO at $29.4 billion, up 11% YoY. The execution was broad-based across clouds, with data/AI driving the expansion in bookings and a sizable contribution from existing customers expanding their usage. Salesforce raised the low end of FY2026 revenue guidance to $41.1–$41.3 billion and highlighted a path toward a record year, supported by an acceleration in data cloud and AgentForce deployments, a robust cash flow profile, and a disciplined capital allocation framework.
Management emphasized the strategic transition to an Agentic Enterprise, stating that humans and agents will work together on a unified data fabric to dramatically increase productivity, customer outcomes, and operating efficiency. The company pointed to strong early success in the data cloud and agent force consumption, a growing set of multi-cloud wins, and expanding addressable markets including SMB/mid-market, public sector, and ITSM. While the near-term growth trajectory remains dependent on AI adoption, product integrations, and macro conditions, the company continues to invest aggressively in product, go-to-market, and select acquisitions to broaden its AI/data foundation.
Key takeaways for investors include: (1) a durable margin expansion trajectory ending FY2026 at higher non-GAAP and GAAP margins versus prior cycles, (2) sustained free cash flow growth aided by tax tailwinds and disciplined capex, (3) a sizable data cloud/AI stack driving large-ticket deals and a higher-quality revenue base, and (4) a clear strategic plan for inorganic growth via targeted acquisitions and a strengthening buyback/dividend program.