Core Insights - Salesforce.com reported $10.24 billion in revenue for the quarter ended July 2025, marking a year-over-year increase of 9.8% and an EPS of $2.91 compared to $2.56 a year ago, exceeding Zacks Consensus Estimates [1] - The revenue surprise was +1.02% over the estimated $10.13 billion, while the EPS surprise was +5.05% over the consensus estimate of $2.77 [1] Financial Performance Metrics - Remaining performance obligation (RPO) - Current: $29.40 billion, exceeding the average estimate of $29.10 billion [4] - Remaining performance obligation (RPO) - Total: $59.90 billion, slightly above the average estimate of $59.85 billion [4] - Remaining performance obligation (RPO) - Noncurrent: $30.50 billion, below the average estimate of $30.74 billion [4] Geographic Revenue Breakdown - Revenue from the Americas: $6.74 billion, below the average estimate of $6.97 billion, with a year-over-year change of +8.6% [4] - Revenue from Asia Pacific: $1.07 billion, above the average estimate of $1.02 billion, with a year-over-year change of +13.9% [4] - Revenue from Europe: $2.43 billion, exceeding the average estimate of $2.15 billion, with a year-over-year change of +11.2% [4] Revenue Segmentation - Revenue from Professional services and other: $546 million, above the estimated $535.15 million, representing a year-over-year decrease of -2.7% [4] - Revenue from Subscription and support: $9.69 billion, slightly above the average estimate of $9.6 billion, with a year-over-year change of +10.6% [4] - Revenue from Subscription and support - Service: $2.46 billion, slightly below the average estimate of $2.47 billion, with a year-over-year change of +8.9% [4] - Revenue from Subscription and support - Marketing and Commerce: $1.37 billion, matching the average estimate, with a year-over-year change of +4.4% [4] - Revenue from Subscription and support - Platform and Other: $2.08 billion, exceeding the average estimate of $2.01 billion, with a year-over-year change of +16.7% [4] - Revenue from Subscription and support - Integration and Analytics: $1.52 billion, above the average estimate of $1.49 billion [4]

Group 1: Earnings Performance - Salesforce.com reported quarterly earnings of $2.91 per share, exceeding the Zacks Consensus Estimate of $2.77 per share, and up from $2.56 per share a year ago, representing an earnings surprise of +5.05% [1] - The company posted revenues of $10.24 billion for the quarter ended July 2025, surpassing the Zacks Consensus Estimate by 1.02%, compared to $9.33 billion in the same quarter last year [2] - Over the last four quarters, Salesforce.com has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - Salesforce.com shares have declined approximately 24.4% since the beginning of the year, while the S&P 500 has gained 9.1% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $2.85 on revenues of $10.29 billion, and for the current fiscal year, it is $11.30 on revenues of $41.17 billion [7] Group 3: Industry Context - The Computer - Software industry, to which Salesforce.com belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5] - The Zacks Rank for Salesforce.com is currently 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [6]

Financial Data and Key Metrics Changes - The company reported Q2 revenue of $10,250,000,000, representing a 10% year-over-year increase and a 9% increase in constant currency [8][46] - Non-GAAP operating margin was strong at 34.3%, with an increase of 60 basis points year-over-year [9][47] - Current Remaining Performance Obligation (CRPO) ended at $29,400,000,000, up 11% year-over-year [9][47] - Operating cash flow is expected to reach nearly $15,000,000,000, marking a significant increase from the previous quarter [9] Business Line Data and Key Metrics Changes - The AI and data product line saw a remarkable growth of 120% year-over-year [9] - Net new bookings from deals over $1,000,000 grew by 26% year-over-year, indicating strong sales momentum [8] - Subscription and support revenue grew slightly above 9% in constant currency, driven by strong execution [46] Market Data and Key Metrics Changes - Strong new business growth was observed in the U.S. and certain areas of EMEA, particularly the Netherlands and Switzerland, while the UK and Japan faced constraints [48] - Technology and communications sectors performed well, while retail, consumer goods, and public sector showed measured performance [48] Company Strategy and Development Direction - The company is focusing on the concept of the "agentic enterprise," which emphasizes the integration of AI and data capabilities into all products [10][12] - There is a strategic emphasis on expanding the Data Cloud, which is seen as critical for the success of AI agents [26][27] - The company is also expanding its presence in the public sector and launching new products like the AgenTic IT service platform [30][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a record year, with strong momentum and disciplined execution [45] - The company is optimistic about the future of AI and its integration into enterprise software, viewing it as a transformative opportunity [71][92] - Management highlighted the importance of customer success and operational excellence as key drivers for future growth [45][52] Other Important Information - The company has returned $2,600,000,000 to shareholders through buybacks and dividends in Q2, with a total of nearly $27,000,000,000 returned since the program began [54] - The company raised its fiscal year '26 revenue guidance to a range of $41,100,000,000 to $41,300,000, reflecting an expected growth of approximately 8.5% to 9% year-over-year [55][56] Q&A Session Summary Question: How defensible is SaaS against disruption from AI-native apps? - Management acknowledged the transformation in the software industry driven by AI, emphasizing that Salesforce has been integrating AI for over a decade and is well-positioned to extend its SaaS capabilities [63][70] Question: When will Data Cloud and Agent Force inflect the top line? - Management indicated that they are starting to harvest the benefits of investments in products and are confident in their strategy to monetize AI [72] Question: What caused the 60% increase in pilot to production conversions? - Management explained that close collaboration with customers and enhancements in product features have facilitated faster transitions from pilot to production [78][81]

Financial Data and Key Metrics Changes - Revenue for Q2 2026 was $10,250,000,000, representing a 10% increase year over year and a 9% increase in constant currency [7][44] - Non-GAAP operating margin was strong at 34.3%, with CRPO at $29,400,000,000, up 11% year over year [7][45] - Operating cash flow is expected to reach nearly $15,000,000,000, with a guidance increase for fiscal year 2026 revenue to $41,100,000,000 to $41,300,000, reflecting growth of approximately 8.5% to 9% year over year [7][53] Business Line Data and Key Metrics Changes - AI and data product line saw a remarkable 120% year-over-year growth [7] - Net new bookings from deals over $1,000,000 grew 26% year over year, indicating strong sales momentum [7] - Subscription and support revenue grew slightly above 9% in constant currency, driven by strong execution [44][45] Market Data and Key Metrics Changes - Strong new business growth was observed in the U.S. and pockets of EMEA, particularly in The Netherlands and Switzerland, while The UK and Japan faced constraints [46] - Technology and communications sectors performed well, while retail, consumer goods, and public sector remained measured [46] Company Strategy and Development Direction - The company is focusing on the concept of the "agentic enterprise," which emphasizes the integration of AI and human collaboration to transform business operations [8][12] - Strategic priorities include delivering customer success, accelerating data and AI adoption, and maintaining a responsible capital allocation strategy [47][51] - The company is expanding its offerings in the public sector and launching a new IT service platform, AgenTeq, to enhance operational efficiency [28][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the transformative potential of AI and the agentic enterprise, stating that this is a pivotal moment in the industry [10][37] - The company anticipates a record year and is raising guidance based on strong performance and customer demand [7][53] - Management highlighted the importance of Data Cloud as a strategic asset for future growth, with significant customer adoption [25][24] Other Important Information - The company returned $2,600,000,000 to shareholders through buybacks and dividends in Q2, with a total of nearly $27,000,000,000 returned since the program began [52] - The company is actively pursuing acquisitions to enhance its capabilities, including recent deals with Convergence.ai and Bluebirds [51] Q&A Session Summary Question: How defensible is SaaS against disruption from AI-native apps? - Management acknowledged the transformation in the software industry driven by AI, emphasizing that Salesforce has been integrating AI for over a decade and is well-positioned to extend its SaaS offerings [60][66] Question: What caused the 60% increase in pilot to production conversions? - Management indicated that close collaboration with customers and enhancements in product features have facilitated faster transitions from pilot to production [74][76] Question: What does a production deal look like around AgentForce? - Management highlighted that successful production deals involve leveraging Data Cloud and integrating various systems to enhance customer interactions and operational efficiency [82][85]

（文章来源：每日经济新闻） 每经AI快讯，9月4日，赛富时盘后跌超3%，此前公司发布2026财年二季度财报。 ...

Financial Performance - Q2 FY26 - Revenue reached $10.2 billion, a 10% year-over-year increase, or 9% in constant currency[13] - Subscription & Support Revenue totaled $9.7 billion, up 11% year-over-year, or 9% in constant currency[13] - Current Remaining Performance Obligation (cRPO) was $29.4 billion, reflecting an 11% year-over-year increase, or 10% in constant currency[13] - GAAP Operating Margin was 22.8%, while Non-GAAP Operating Margin was 34.3%[13] - Operating Cash Flow was $740 million and Free Cash Flow was $605 million[13] Capital Allocation - $2.6 billion was returned to shareholders in Q2 FY26, including $2.2 billion in share repurchases and $399 million in dividends[13, 19] - The company has repurchased $24.3 billion of shares since the inception of the repurchase program, out of a total authorized $50 billion[19] - A $20 billion increase to the share repurchase program brings the total authorized amount to $50 billion[20] FY26 Guidance - Revenue guidance is maintained at $41.1 billion - $41.3 billion, representing 8.5% - 9% year-over-year growth[21] - Non-GAAP Operating Margin guidance is increased to 34.1%[21, 45] - Non-GAAP Diluted EPS guidance is raised to $11.33 - $11.37[21] Q3 FY26 Guidance - Revenue is projected to be $10.24 billion - $10.29 billion, an 8% - 9% year-over-year increase[23]

All right, let's get another check on Salesforce. Those shares are falling post earnings off the lows but still down about three and a half% despite reporting a beat on earnings and revenue for the second quarter. Joining us now is Gil Lauria from DA Davidson.Gil, is this a case of whiplash where uh Salesforce was getting criticized for being inefficient, but now the market's attention has turned to growth. And despite what Beni off said about this being a year of AI, the growth numbers aren't quite measuri ...

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And right now we are 2 minutes away from the end of the trading day. Romaine Bostick alongside Katie Greipel taking you through to that closing bell with a global simulcast. We're joined right now by Carol Massar and tim Stenovec in the radio booth.Welcome to our audiences across all of our Bloomberg platforms here on a Wednesday afternoon with financial markets, equity markets trying to claw back some of the losses from yesterday Carol. Yeah, what an interesting trade. It feels like it's been under pressur ...

Marc Benioff, co-founder and CEO of Salesforce, sits for an interview in San Francisco on April 25, 2025.Salesforce issued disappointing guidance on Wednesday, even as earnings and revenue topped estimates for the fiscal second quarter. The stock dropped 4% in extended trading.Here's how the company did in comparison with LSEG consensus:Earnings per share: $2.91 adjusted vs. $2.78 expectedRevenue: $10.24 billion vs. $10.14 billion expectedRevenue increased 10% from $9.33 billion a year earlier, according to ...