Salesforce reported adjusted earnings per share of $3.88, surpassing the expected $3.12, and revenue of $11.13 billion, slightly above the $11.05 billion forecast. Year-over-year revenue growth was 13%, with net income rising to $2.11 billion from $1.54 billion a year earlier.
However, for the upcoming quarter, Salesforce projected adjusted earnings per share between $3.25 and $3.27, and revenue between $11.27 billion and $11.35 billion, both of which were below analyst expectations. The company raised its full-year earnings forecast to between $14.06 and $14.12 per share, with revenue expectations of $45.9 billion to $46.2 billion, indicating an 11% growth rate.
Despite these results, Salesforce's stock has declined 33% in 2026, contrasting with a 10% gain in the S&P 500, as investors remain wary of the impact of AI on growth prospects. Salesforce continues to expand through acquisitions and reported significant growth in its Agentforce AI tools, which generated $1.2 billion in annualized revenue, a 205% increase year-over-year.
The remaining performance obligation stood at $67.9 billion, slightly below analyst expectations. The company also made acquisitions of startups Cimulate and Momentum, and announced a partnership with the U.S. Veterans Health Administration for an AI agent system in Slack