Salesforce Inc (NYSE:CRM) reported financial results for the first quarter of fiscal 2027 after the closing bell on Wednesday. Here’s a rundown of the report.
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Salesforce Q1 Highlights
Salesforce reported first-quarter revenue of $11.13 billion, beating the consensus estimate of $11.05 billion. The enterprise software company posted adjusted earnings of $3.88 per share, well above estimates of $3.12 per share, according to Benzinga Pro.
Total revenue in the quarter was up 13% on a year-over-year basis. Salesforce said it exited the period with total remaining performance obligations of $67.9 billion, up 11% year-over-year.
Salesforce generated an operating cash flow of $6.7 billion and a free cash flow of $6.6 billion in the quarter. The company had approximately $8.94 billion in cash and cash equivalents at the end of the reporting period.
“This was an outstanding quarter for Salesforce — record revenue, record deals and cash flow. Agentic AI is the biggest growth opportunity for our customers, and for Salesforce,” said Marc Benioff, chair and CEO of Salesforce.
Salesforce expects second-quarter revenue to be in the range of $11.27 billion to $11.35 billion, versus estimates of $11.36 billion. The company anticipates second-quarter adjusted earnings of $3.25 to $3.27 per share, versus estimates of $3.24 per share.
Salesforce expects fiscal 2027 revenue to be in the range of $45.9 billion to $46.2 billion, versus estimates of $46.12 billion. The company sees full-year adjusted earnings in the range of $14.06 to $14.12 per share, up from prior guidance of $13.11 to $13.19 per share. Analysts are currently looking for full-year adjusted earnings of $13.22 per share.
Salesforce said it entered into a $25 billion accelerated share repurchase program with final settlement expected in the third quarter of fiscal 2027.
Salesforce’s management team will further discuss the quarter on an earnings call scheduled for 5 p.m. ET.
CRM Stock Slides After The Close
CRM Price Action: Salesforce shares were down 3.22% in after-hours Wednesday, trading at $171.80 at the time of publication, according to Benzinga Pro.
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Image: courtesy of Salesforce.