Salesforce (CRM) Q2 FY2027 Earnings Call: Guidance and Outlook
Salesforce raised its full-year fiscal 2027 revenue outlook by $300 million in constant currency, factoring in organic growth acceleration and upcoming acquisitions, while providing formal expectations for the third quarter.
About Salesforce. Salesforce, Inc. is a leading provider of customer relationship management (CRM) solutions, dedicated to connecting businesses and their clientele on a global scale. At its core, the Customer 360 platform empowers organizations to create seamless, integrated experiences for their customers.
$11.42 billion to $11.5 billion, growth of approximately 11% to 12% in constant currency.
Q3 CRPO growth
Approximately 14% year-over-year in constant currency.
Annual guidance
FY 2027 Revenue
$46.1 billion to $46.4 billion, a $300 million constant currency raise incorporating organic performance and anticipated acquisitions.
FY 2027 Non-GAAP Operating Margin
Approximately 34.3%.
FY 2027 GAAP Operating Margin
Approximately 20.1%.
Operating and Free Cash Flow Growth
Approximately 4% to 5% year-over-year.
Outlook
Organic revenue reacceleration
Management expects organic revenue growth to reaccelerate in the second half of the fiscal year, driven by first-half net new AOV growth outpacing standard AOV growth.
AI monetization and adoption
Customers are increasingly adopting agentic workflows, with Agentforce ARR hitting $1.5 billion and active AW use scaling significantly across the platform.
Capital return strategy
The company continues its $25 billion accelerated share repurchase program, expecting to repurchase at least 14% of shares outstanding at an average price of $176 per share.
M&A contributions
The full-year guidance raise incorporates a $200 million expected contribution from the anticipated closings of Contentful and Fin in the coming weeks.
Dombey's summary of the Salesforce Q2 FY2027 earnings call held Aug 26, 2026, written from the call itself. Every figure on this page was checked against what was said on the call, and quoted lines are management's own words; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.
