Q2 26 EPS
$2.91
BEAT +4.71%
Est. $2.78
Q2 26 Revenue
$10.24B
BEAT +0.97%
Est. $10.14B
vs S&P Since Q2 26
-34.9%
TRAILING MARKET
CRM -23.8% vs S&P +11.0%
Market Reaction
Did CRM Beat Earnings? Q2 2026 Results
Salesforce posted a clean beat across the board in its fiscal second quarter of 2026, with non-GAAP diluted EPS of $2.91 topping the $2.78 consensus by 4.71% and revenue of $10.24 billion edging past estimates by 0.97% on 9.8% year-over-year growth, … Read more Salesforce posted a clean beat across the board in its fiscal second quarter of 2026, with non-GAAP diluted EPS of $2.91 topping the $2.78 consensus by 4.71% and revenue of $10.24 billion edging past estimates by 0.97% on 9.8% year-over-year growth, results that will have investors watching the stock closely. The standout driver was the explosive momentum in Data Cloud and AI, where annual recurring revenue crossed $1.20 billion, up 120% year-over-year, while Agentforce deal closures surpassed 12,500, over 6,000 of which were paid engagements. That AI traction helped propel subscription and support revenue to $9.69 billion, and lifted non-GAAP operating margin to 34.3%, marking the company's tenth consecutive quarter of expansion. Current remaining performance obligation rose 11% to $29.40 billion, underpinning healthy forward visibility. For Q3, Salesforce guided revenue of $10.24 billion to $10.29 billion and raised its full-year non-GAAP operating margin outlook to 34.1%, signaling continued confidence in its AI-led growth trajectory.
Key Takeaways
- • Subscription and support revenue grew 11% Y/Y to $9.7 billion, representing 95% of total revenue
- • Data Cloud and AI ARR surpassed $1.2 billion, up 120% Y/Y
- • Tenth consecutive quarter of operating margin expansion
- • Non-GAAP operating margin expanded to 34.3% from 33.7% Y/Y
- • Current remaining performance obligation of $29.4 billion, up 11% Y/Y
- • Platform and Other was the fastest-growing subscription segment at 16% CC growth
- • Over 40% of Data Cloud and Agentforce Q2 bookings from existing customer expansion
- • Service and Platform were in all Q2 Top 10 Deals
CRM YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
CRM Revenue by Segment
With YoY comparisons, source: SEC Filings
CRM Revenue by Geography
With YoY comparisons, source: SEC Filings
“We delivered an outstanding quarter to close out the first half of the year, with strong performance across revenue, margin, cash flow, and cRPO—and we remain on track for fiscal 2026 to be a record year with nearly $15 billion in operating cash flow.”
— Marc Benioff, Q2 2026 Earnings Press Release
CRM Earnings Trends
CRM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CRM EPS Trend
Earnings per share: estimate vs actual
CRM Revenue Trend
Quarterly revenue: estimate vs actual
CRM Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $3.05 | $3.81 | +24.92% | $11.20B | — |
| FY Full Year | $11.77 | $12.52 | +6.36% | $41.53B | +0.08% |
| Q3 26 BEAT | $2.86 | $3.25 | +13.57% | $10.26B | -0.13% |
| Q2 26 BEAT | $2.78 | $2.91 | +4.71% | $10.24B | +0.97% |
| Q1 26 BEAT | $2.55 | $2.58 | +1.29% | $9.83B | +0.81% |
| Q4 25 BEAT FY | $2.61 | $2.78 | +6.43% | $9.99B | -0.42% |
| FY Full Year | — | $10.20 | — | $37.90B | — |
| Q3 25 MISS | $2.45 | $2.41 | -1.47% | $9.44B | +1.04% |