Executive Summary
Salesforce delivered a solid QQ2 2026 performance driven by durable subscription revenue and operating leverage. Revenue of $10.236 billion rose 9.77% year over year and 4.14% quarter over quarter, supported by a robust gross margin of 78.1% and a meaningful expansion in operating profitability. EBITDA of $3.223 billion and operating income of $2.332 billion yielded an operating margin of 22.78%, while net income reached $1.887 billion (net margin 18.43%), translating to diluted EPS of $1.96–$1.97.
Key Performance Indicators
Key Insights
Revenue: $10.236B (YoY +9.77%, QoQ +4.14%); Gross Profit: $7.994B (YoY +11.55%, QoQ +5.68%); Operating Income: $2.332B (YoY +30.79%, QoQ +20.08%); Net Income: $1.887B (YoY +32.05%, QoQ +22.45%); EPS (Diluted): $1.96–$1.97 (YoY +33.11%, QoQ +22.36%); EBITDA: $3.223B; EBITDA Margin: ~31.5%; Gross Margin: 78.1%; Operating Margin: 22.78%; Net Margin: 18.43%. R&D: $1.481B (~14.5% of revenue); SG&A: $4.177B (~40.8% of revenue); D&A: $0.817B; Free Cash Flow: $0.605B; Cash Flow from Operat...
Financial Highlights
Revenue: $10.236B (YoY +9.77%, QoQ +4.14%); Gross Profit: $7.994B (YoY +11.55%, QoQ +5.68%); Operating Income: $2.332B (YoY +30.79%, QoQ +20.08%); Net Income: $1.887B (YoY +32.05%, QoQ +22.45%); EPS (Diluted): $1.96–$1.97 (YoY +33.11%, QoQ +22.36%); EBITDA: $3.223B; EBITDA Margin: ~31.5%; Gross Margin: 78.1%; Operating Margin: 22.78%; Net Margin: 18.43%. R&D: $1.481B (~14.5% of revenue); SG&A: $4.177B (~40.8% of revenue); D&A: $0.817B; Free Cash Flow: $0.605B; Cash Flow from Operations: $0.740B; CapEx: $0.135B; Deferred Revenue: $16.555B; Cash & Equivalents: $10.365B; Total Cash & Investments: $15.372B; Net Debt: -$7.564B (net cash). Balance sheet highlights include Total Assets $97.573B, Total Liabilities $36.245B, and Total Stockholders’ Equity $61.328B; Goodwill $51.438B; Intangible Assets $3.669B.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
10.24B |
9.77% |
4.14% |
| Gross Profit |
7.99B |
11.55% |
5.68% |
| Operating Income |
2.33B |
30.79% |
20.08% |
| Net Income |
1.89B |
32.05% |
22.45% |
| EPS |
1.97 |
33.11% |
22.36% |
Management Commentary
Transcript highlights not provided in the prompt. Please supply the earnings call transcript to extract management quotes and theme-based insights (e.g., strategy, operations, market conditions).
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— N/A
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Forward Guidance
No explicit quarterly guidance was provided in the prompt. Based on QQ2 2026 results, Salesforce demonstrates durable revenue growth and meaningful profitability with a fortress balance sheet. In our view, potential guidance would likely emphasize continued mid-to-high single-digit revenue growth, ongoing operating leverage, and AI-enabled product adoption (Sales AI, Slack, Tableau, MuleSoft) to support cross-sell across the Customer 360 platform. Key variables to monitor include renewal rates, ARR progression, gross retention, pipeline strength in large enterprise deals, and the pace of AI feature monetization. Macro headwinds, competitive intensity (e.g., Microsoft, Oracle, SAP) and currency movements for the FOO.DE listing are notable risks.