Salesforce Posts Record Q2 FY27 Revenue, Boosts Outlook on AI Gains and Anthropic Partnership

SentiSense · Published Aug 26, 2026, 4:07 PM ET · Updated Aug 26, 2026, 8:28 PM ET

Salesforce reported fiscal Q2 FY27 revenue of $11.35 billion against an $11.32 billion consensus, up 11% year over year, with GAAP EPS of $4.29 and non-GAAP EPS of $5.90. Results included a $2.6 billion gain on its Anthropic stake, and AI portfolio ARR reached $3.9 billion, up 210%. The company lifted full-year revenue guidance to $46.1 billion to $46.4 billion from $45.9 billion to $46.2 billion, and current remaining performance obligations grew 14% to $33.5 billion. Shares rose between 12% and 14% in extended trading.

Salesforce posted fiscal second-quarter FY27 revenue of $11.35 billion against an LSEG consensus of $11.32 billion, up 11% year over year, with subscription and support revenue up 12% to $10.8 billion including a $440 million contribution from Informatica. GAAP diluted EPS rose 119% to $4.29 and non-GAAP diluted EPS rose 103% to $5.90. Net income of $3.53 billion jumped 87% from a year earlier, and the company attributed a $2.6 billion gain on strategic investments to its stake in Anthropic.

Read the EPS carefully, because most of the leverage is one line. Stripping the Anthropic mark-up, the operating story is steadier than the 119% headline suggests: GAAP operating margin was 20.5% and non-GAAP operating margin 34.1%, while operating cash flow rose 71% to $1.3 billion and free cash flow rose 81% to $1.1 billion against a StreetAccount consensus of $643.2 million. Current remaining performance obligations reached $33.5 billion, up 14% and ahead of the $33.22 billion analysts expected.

The guidance move was real but modest. Salesforce now sees full-year revenue of $46.1 billion to $46.4 billion, up from the $45.9 billion to $46.2 billion it guided in May and roughly in line with an LSEG consensus of $46.11 billion, implying about 11% growth at the midpoint. Third-quarter revenue is guided to $11.42 billion to $11.50 billion versus $11.41 billion expected. Bloomberg highlighted the strength management projected in sales and bookings.

On the AI line itself, 24/7 Wall St reported AI portfolio ARR topping $3.9 billion, up 210% year over year, while CNBC put annualized Agentforce revenue above $1.5 billion, up 240%. Salesforce also announced Claudeforce, a plugin for Anthropic's Claude that drafts emails and updates records from chat, disclosed a $1.6 billion contract with the Department of Veterans Affairs, and revealed plans to acquire customer-service startup Fin for $3.6 billion. CRM shares rose between 12% and 14% in extended trading, though the stock had entered the print down 22% year to date while the S&P 500 gained 12%. SentiSense's analyst consensus sits at a $243.98 average target across 54 analysts, in a wide $160.00 to $475.00 band, with 39 of 54 at buy. The question the next two quarters settle is whether AI ARR keeps compounding once the Anthropic gain stops flattering the comparison.