Salesforce earnings: December 2, 2026 results
Salesforce's next results are expected on December 2, 2026. Salesforce should show whether Agentforce and Data 360 turn production use into durable, profitable revenue.
What has Salesforce guided for FY27?
Salesforce expects fiscal 2027 revenue of $46.1–$46.4 billion, growing 11%–12%. It has also reaffirmed a goal of at least $63 billion by fiscal 2030, including Informatica and announced acquisitions.
Profit guidance also needs translation. Salesforce expects a 20.1% GAAP operating margin and a 34.3% non-GAAP margin. Non-GAAP removes selected expenses, but those costs remain real. Stock-based compensation is forecast at 9.0% of revenue, and free cash flow is expected to grow only 4%–5%. The promise therefore depends on organic sales accelerating while cash generation keeps pace.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| FY27 — Revenue (US$ billions) | Year to Jan 2027 | 46.1 | 46.4 | Aug 26, 2026 |
| FY27 — Revenue growth | Year to Jan 2027 | 11.0% | 12.0% | Aug 26, 2026 |
| FY27 — GAAP operating margin | Year to Jan 2027 | 20.1% | 20.1% | Aug 26, 2026 |
| FY27 — Free cash flow growth | Year to Jan 2027 | 4.0% | 5.0% | Aug 26, 2026 |
Did Salesforce keep its past promises?
That issue became a governance dispute in 2026. ISS, a firm advising investors on votes, opposed adding 34 million shares to the equity plan because of the estimated value transferred through awards. Glass Lewis, another proxy adviser, supported it, and shareholders approved the proposal on May 28. Salesforce’s promises on pay have therefore improved, but the continuing test is whether AI growth creates enough value per remaining share to justify both executive rewards and employee equity.
What is Salesforce's trend in the last eight quarters?
Cash improved, but quarterly cash follows the collection cycle. The eight-quarter record is therefore more reliable than one strong or weak quarter.
| Jul 2026 | Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11,345 | 11,133 | 11,201 | 10,259 | 10,236 | 9,829 | 9,993 | 9,444 |
| Gross margin | 76.7% | 76.9% | 77.6% | 78.0% | 78.1% | 77.0% | 77.8% | 77.7% |
| Operating income | 2,331 | 2,347 | 1,869 | 2,188 | 2,332 | 1,942 | 1,820 | 1,893 |
| Net income | 3,526 | 2,107 | 1,943 | 2,086 | 1,887 | 1,541 | 1,708 | 1,527 |
| EPS, diluted | 4.29 | 2.42 | 2.07 | 2.19 | 1.96 | 1.59 | 1.75 | 1.58 |
What should Salesforce watchers look for next?
These tests matter especially for Agentforce and Data 360, where real customer use must become durable, profitable revenue.