After a strong start to FY26, can Salesforce keep the pace in Q2?

Salesforce, Inc. (NYSE: CRM) entered the new fiscal year on a positive note, delivering revenue growth across all operating segments in the first quarter of FY26. Building on its expanding customer base, the tech firm has launched a unified enterprise AI platform that integrates Agentforce, Data Cloud, Tableau, and Customer 360.

The customer relationship management platform is gearing up to report its second-quarter 2026 earnings on Wednesday, September 3, at 4:00 pm ET. On average, Wall Street analysts following the business project adjusted earnings of $2.78 per share for the July quarter, compared to $2.56 per share last year. The positive outlook reflects an estimated 8.7% YoY increase in revenues to $10.14 billion in Q2 FY26.

Guidance

A few weeks ago, the Salesforce leadership in a statement said it expects second-quarter earnings per share to be in the range of $2.76 to $2.78, and revenues between $10.11 billion and $10.16 billion. For the full fiscal year, it forecasts revenues of $41-41.3 billion and adjusted earnings per share in the $11.27-$11.33 range.

For the company’s shares, 2025 has been a dismal year so far, with their value shrinking by a quarter since the beginning of the year. The last closing price is well below the stock’s 52-week average value of $288.67. Ahead of the upcoming earnings report, the stock has regained some momentum, signaling a potential recovery. Meanwhile, the relatively modest valuation presents a compelling investment opportunity, supported by stable enterprise demand and the significant growth potential of the AI market

Q1 Results

In the first three months of fiscal 2026, Salesforce’s adjusted earnings rose 6% annually to $2.58 per share, reflecting an 8% growth in revenues to $9.8 billion. Revenue grew across all business divisions and geographical regions, albeit at a moderate rate. On an unadjusted basis, Q1 profit rose modestly from last year to $1.54 billion or $1.59 per share. Both earnings and the top line exceeded analysts’ estimates.

From Salesforce’s Q1 2026 Earnings Call:

“We’ve got 800 customers already in production with AgentForce, including amazing companies like Engie, and that has been an incredible success story with incredible velocity and conversations in OpenTable, Finnair, Grupo Global. Falavella, we’ve talked about so many of these. We’re going to talk about so many more. And we have launched hundreds of pre-built agent force templates for different industries, roles, tasks, making it faster and easier for customers to deploy agent force. We’re learning a lot about how to make agents successful, productive, how to scale, how to tune our own organization, and really get our customers all ready for this AI transformation in the enterprise led by agents.”

AI Push

Salesforce is betting on the healthy demand environment to drive growth this year, leveraging the strength of Agentforce’s new product cycle. Recently, the company acquired data management company Informatica for around $8 billion to strengthen its artificial intelligence strategy and create an integrated, agent-ready data platform.

After hitting an all-time high in the final weeks of 2024, Salesforce’s stock came under pressure, with the downtrend extending into this week. CRM traded slightly lower on Monday afternoon.