💃 Salesforce 2026Q2 (FY2027Q2) Earnings Call 🕺

Good morning, Salesforce Nerds! Three straight quarters of double beats.

After Q1, where Salesforce delivered a knockout and the judges somehow scored it a loss, Q2 finally got the scorecard it deserved.

The stock popped 13% after hours. Down 22% on the year 📉, up 13% in one evening 📈. Wall Street spent six months booing from the nosebleeds and then rushed the ring when the bell rang 🔔.

All of your Salesforce 2026Q2 (FY2027Q2) Earnings Call highlights wrapped into a 4 minute burrito 🌯.

THE NUMBERS

Salesforce FY2027Q2 Earnings

Revenue | $11.35 billion, up 11% YoY. Beat guidance. ✅

Earnings | $4.29 per share, more than double last year's $1.96 💪. ✅ (A $2.6 billion gain on their Anthropic investment did some heavy lifting here.)

Three consecutive double beats 🥊🥊🥊.

Agentforce ARR crossed $1.5 billion with 240% YoY growth. This is a massive win for all SaaS with on-platform-AI as the street is dying to see AI monetized.

AI and Data ARR combined: nearly $3.9 billion, up 210%. CRPO hit $33.5 billion, up 14% constant currency. Free cash flow: $1.1 billion, up 81%.

Full-year guidance raised to $46.4 billion. This time, Wall Street liked the number 💰.

NAME CRINGE

Claudeforce

The headline punch 👊 was Claudeforce, a collaboration between Salesforce and Anthropic. Marc called it combining "the number one AI in the world" with "the number one CRM".

A very thoughtful product name too 😬.

Claudeforce delivers personalized interfaces that think, reason, and act on top of Salesforce's data layer.

Benioff outlined a four-layer enterprise architecture: data (Mulesoft + Informatica), applications, an agentic layer, and the interface layer where Claudeforce, Slack, and headless deployments live.

The fun part 🤑…Salesforce's EPS got a $2.6 billion boost from their Anthropic investment. And now they're building product together. The bet is paying off in the balance sheet AND the product roadmap 🤝.

Say whatever you want about Marc, Salesforce, Agentforce, etc but their early Anthropic investment is paying off.

David Friedberg, of All-In podcast fame, jumped on the call and said he implemented Salesforce using AI tools in under a month. There’s a lot of bs and sunshine and rainbows on these calls, but it is old news that you can stand up a functioning CRM using Claude via External App (SDLC be damned! 😈)

THE GOOD, BAD AND UGLY

Tell Me Something Good

Let’s go reverse order and kickoff with the ugly 🙂.

Claudeforce is the lamest name of all time, ever.

Ok, now the bad 👇

🙅 Marc compared Salesforce’s free cash flow to companies like Pepsi, Costco, Disney and Coke. Comparing a SaaS company’s free cash flow to legacy businesses like CPG and entertainment is like comparing NBA players with dart players - both sports but wildly different expectations of athleticism.

🙅 Agentforce posted important growth, but the businesses spending that money are not telling stories of ROI. 

🙅 Once again, no analyst asked about a succession plan. It’s true Mark is only 61 years old, but it’d be nice to know there is a plan nahmean 🤷🏻.

Really had to nitpick for the bad…

And finally, the good 😊

So, on this earnings call, Salesforce...

🥊 Delivered a third consecutive double beat on Revenue and EPS

📈 Grew Agentforce production customers 70% QoQ, adding 2,000 new paying customers

🪖 Expanded a multi-billion dollar U.S. Army contract (55 million monthly Agentforce conversations expected 🤔)

🚀 Slackbot hit 1 million active users, up 150% QoQ. AWU consumption: 3.2 billion, up 97% QoQ.

💼 Announced plans to hire 1,200 additional account executives before year-end

📈 Net new AOV growth? Strongest in 4 years.

📉 Attrition? Near historic lows.

Marc threw haymakers at the "SaaSpocalypse" narrative.

Miguel Milano (new COO) landed the real stat- customers starting agentic journeys show double their current AOV (average order value), with potential to reach 3-4x over time. And only 5% of knowledge workers sit on premium editions today.

All very impressive stuff. And perfect timing with the flagship event just around the corner 👇

Dreamforce arrives with 50,000 attendees and keynotes from Dario Amodei, Sam Altman, and Jensen Huang 🤯. It takes a ton of influence to get those 3 nerds on a single ticket 👏.

Congrats on the quarter Marc, you’ll get a well-earned victory lap around Moscone 🏟️, surrounded by the most powerful people in AI tech in the world.

SOUL FOOD

Today’s Principle

and now....Your Salesforce Memes