Salesforce FY27 Q2: revenue up 10.8%, but operating profit is flat
Salesforce's FY27 Q2 revenue rose 10.8% to $11.345 billion and cRPO growth accelerated to 14%, but the $3.526 billion of net income was flattered by $2.613 billion of gains on strategic investments: operating income was flat year over year and the full-year guidance raise leans mostly on acquisitions that have not closed. View: Neutral.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $4.29, up 119% from $1.96, and non-GAAP EPS was $5.90, up 103% from $2.91. But $2.43 of the GAAP figure came from gains on strategic investments, so the reported profit is not what the operations produced. Share count also fell to 821 million from 962 million, which lifts per-share numbers on its own.
Revenue was $11.345 billion, up 10.8% from $10.236 billion a year earlier. Subscription and support, the recurring core, rose 11.7% to $10.820 billion and included a $440 million Informatica contribution, while professional services fell 3.8% to $525 million. Informatica supplied $440 million of a $1.109 billion year-over-year increase, so close to 40% of the growth came from an acquisition rather than from the existing business.
Q3 FY27 revenue is guided to $11.42 billion to $11.5 billion, a midpoint of $11.46 billion, and full-year FY27 to $46.1 billion to $46.4 billion, up 11% to 12%. Q3 GAAP EPS guidance of $1.81 to $1.83 is far below the $4.29 just reported, because the company does not forecast investment gains. Full-year GAAP EPS is guided to $10.21 to $10.25 and non-GAAP to $16.67 to $16.71, with non-GAAP operating margin held at 34.3%.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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