# Salesforce (CRM) Q2 2026 Financial Results Summary
Salesforce (NYSE: CRM) released its financial results for the second quarter of fiscal 2026 on September 3, 2025. Below is a summary of their key metrics and highlights from the report:
## Financial Performance Summary
– **Second Quarter Revenue**:
– $10.2 billion, up **10% Year-Over-Year (Y/Y)** and **9% in Constant Currency (CC)**.
– **Subscription & Support Revenue**:
– $9.7 billion, up **11% Y/Y** and **9% in CC**.
– **Current Remaining Performance Obligation (cRPO)**:
– $29.4 billion, an increase of **11% Y/Y** and **10% in CC**.
– **Operating Margin**:
– GAAP Operating Margin: **22.8%**.
– Non-GAAP Operating Margin: **34.3%**.
– **Shareholder Returns**:
– Returned **$2.6 billion** to shareholders:
– **$2.2 billion** in share repurchases.
– **$399 million** in dividends.
– **Share Repurchase Program**:
– Announced a **$20 billion increase** to the existing program, raising total authorization to **$50 billion**.
– **Net Income**:
– $1.887 billion, up **32% Y/Y** from $1.429 billion in Q2 2024.
– Diluted Net Income Per Share: **$1.96**, up from **$1.47** the previous year.
– **Operating Cash Flow**:
– Nearly **$15 billion** projected for fiscal 2026, reflecting strong performance.
## Key Metrics and Growth Indicators
– **Annual Recurring Revenue of Data Cloud and AI**:
– Exceeded **$1.2 billion**, up **120% Y/Y**.
– **Deal Closures**:
– More than **12,500 deals** closed since launching Agentforce, with over **6,000** being paid.
– **Top Deals**:
– Over **60 deals** above **$1 million** included offerings from both Data Cloud and AI.
– **Customer Expansion**:
– Over **40%** of Data Cloud and Agentforce bookings in Q2 were driven by existing customer growth.
## Guidance for Future Periods
– **Third Quarter FY26 Revenue Guidance**:
– Projected between **$10.24 billion to $10.29 billion**, representing an **8% – 9% Y/Y** growth.
– **Full Year FY26 Revenue Guidance**:
– Incrementally raised to **$41.1 billion to $41.3 billion**, indicating an **8.5% – 9% Y/Y** improvement.
– **GAAP Operating Margin Guidance**:
– Updated to **21.2%**.
– Non-GAAP Operating Margin Guidance revised to **34.1%** for FY26.
– **Operating Cash Flow Growth Guidance**:
– Anticipating a growth rate of approximately **12% to 13% Y/Y**.
## Recent Business Developments
– **Innovation and Customer Engagement**: Significant updates to core platform and app offerings expected to drive customer success and productivity.
– **Conference Note**: Salesforce will conduct a conference call to discuss these results further, providing additional insights into their strategic initiatives.
## Conclusion
Salesforce’s Q2 FY26 performance demonstrates robust growth across various financial metrics, strong shareholder returns through dividends and share repurchases, and positive guidance for future periods, reinforcing their leading position in the AI CRM market.
### Condensed Consolidated Statements of Operations
(in millions, except per share data)
| Three Months Ended July 31, | Six Months Ended July 31, | |
|---|---|---|
| Revenues: | ||
| Subscription and support | $ 9,690 | $ 18,987 |
| Professional services and other | $ 546 | $ 1,078 |
| Total revenues | $ 10,236 | $ 20,065 |
| Cost of revenues (1)(2): | ||
| Subscription and support | $ 1,645 | $ 3,256 |
| Professional services and other | $ 597 | $ 1,251 |
| Total cost of revenues | $ 2,242 | $ 4,507 |
| Gross profit | $ 7,994 | $ 15,558 |
| Operating expenses (1)(2): | ||
| Research and development | $ 1,481 | $ 2,941 |
| Sales and marketing | $ 3,443 | $ 6,872 |
| General and administrative | $ 734 | $ 1,431 |
| Restructuring | $ 4 | $ 40 |
| Total operating expenses | $ 5,662 | $ 11,284 |
| Income from operations | $ 2,332 | $ 4,274 |
| Gains (losses) on strategic investments, net | $ 6 | $ -57 |
| Other income | $ 68 | $ 163 |
| Income before provision for income taxes | $ 2,406 | $ 4,380 |
| Provision for income taxes | $ -519 | $ -952 |
| Net income | $ 1,887 | $ 3,428 |
| Basic net income per share | $ 1.97 | $ 3.58 |
| Diluted net income per share (3) | $ 1.96 | $ 3.55 |
| Shares used in computing basic net income per share | 956 | 958 |
| Shares used in computing diluted net income per share | 962 | 966 |
### Condensed Consolidated Balance Sheets
(in millions)
| July 31, 2025 | January 31, 2025 | |
|---|---|---|
| Assets | -unaudited | |
| Current assets: | ||
| Cash and cash equivalents | $ 10,365 | $ 8,848 |
| Marketable securities | $ 5,007 | $ 5,184 |
| Accounts receivable, net | $ 5,596 | $ 11,945 |
| Costs capitalized to obtain revenue contracts, net | $ 1,862 | $ 1,971 |
| Prepaid expenses and other current assets | $ 2,501 | $ 1,779 |
| Total current assets | $ 25,331 | $ 29,727 |
| Property and equipment, net | $ 3,154 | $ 3,236 |
| Operating lease right-of-use assets, net | $ 2,028 | $ 2,157 |
| Noncurrent costs capitalized to obtain revenue contracts, net | $ 2,266 | $ 2,475 |
| Strategic investments | $ 5,085 | $ 4,852 |
| Goodwill | $ 51,438 | $ 51,283 |
| Intangible assets acquired through business combinations, net | $ 3,669 | $ 4,428 |
| Deferred tax assets and other assets, net | $ 4,602 | $ 4,770 |
| Total assets | $ 97,573 | $ 102,928 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable, accrued expenses and other liabilities | $ 5,397 | $ 6,658 |
| Operating lease liabilities, current | $ 580 | $ 579 |
| Unearned revenue | $ 16,555 | $ 20,743 |
| Total current liabilities | $ 22,532 | $ 27,980 |
| Noncurrent debt | $ 8,436 | $ 8,433 |
| Noncurrent operating lease liabilities | $ 2,221 | $ 2,380 |
| Other noncurrent liabilities | $ 3,056 | $ 2,962 |
| Total liabilities | $ 36,245 | $ 41,755 |
| Stockholders’ equity: | ||
| Common stock | $ 1 | $ 1 |
| Treasury stock, at cost | $ -24,408 | $ -19,507 |
| Additional paid-in capital | $ 66,701 | $ 64,576 |
| Accumulated other comprehensive income (loss) | $ 47 | $ -266 |
| Retained earnings | $ 18,987 | $ 16,369 |
| Total stockholders’ equity | $ 61,328 | $ 61,173 |
| Total liabilities and stockholders’ equity | $ 97,573 | $ 102,928 |
