Salesforce.com Inc. (CRM.US) raised its revenue and adjusted profit forecasts for fiscal 2026 on Wednesday, following better-than-expected first-quarter results driven by robust cloud spending and growing adoption of its AI platform.
The enterprise software provider reported Q1 revenue of $9.83 billion, beating Wall Street estimates of $9.75 billion and marking 7.6% year-over-year growth. Adjusted earnings per share came in at $2.58, surpassing the consensus estimate of $2.55.
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Salesforce's Agentforce platform emerged as a key growth driver, with the company closing over 8,000 deals since launch, half of which are already generating revenue. The AI agent platform helped drive Data Cloud and AI annual recurring revenue past $1 billion, up 120% year-over-year.
Concurrent with earnings, Salesforce announced plans to acquire data management platform Informatica for $8 billion, its largest deal since the $27.1 billion Slack acquisition in 2021. The acquisition aims to strengthen data integration capabilities crucial for AI agent deployment.
Raised Guidance
Based on strong performance, Salesforce raised its fiscal 2026 revenue forecast to $41-$41.3 billion, up from the previous range of $40.5-$40.9 billion. The company also increased adjusted earnings guidance to $11.27-$11.33 per share.
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