Traditional SaaS bellwether $Salesforce(CRM.US) reported FY27 Q2 results for the quarter ended Jul on Aug 27 (pre-mkt), with headline numbers still muted. Both growth and core profitability were broadly in line with the Street, and trends remained steady.

Q2 revenue was $11.35bn (+11% YoY), and CRPO accelerated to $33.5bn (+14% YoY).

Full-year guidance was raised by $300mn to $46.1–46.4bn; only $100mn was organic, with $200mn from M&A consolidation, and a new $100mn FX headwind added. The company also bundled Claudeforce with higher-tier upgrades, with GA in Sep.

Below is Dolphin Research’s Trans of the $Salesforce(CRM.US) FY27 Q1 earnings call. For our analysis, see 'Salesforce: neither growth nor profit — can the AI story still hold?'

I) Key takeaways: 1) Record shareholder returns. The company executed a $25bn accelerated share repurchase (ASR), the largest in its history and half of the $50bn buyback authorization. The ASR reduced diluted shares outstanding in Q1 by 10% YoY...

As the legacy SaaS bellwether under pressure from the 'AI replacement' narrative, $Salesforce(CRM.US) reported FY27 Q1 (ended Apr.) after the U.S. close on May 28. Overall, the print was muted.

The quarter was fine, with most metrics roughly in line with the Street. There was little to flip the narrative.

Forward guide skewed soft. With no clear sign of revenue re-acceleration, management trimmed the margin outlook.

Specifically: 1) Growth remains uneventful. Core subscription revenue was approx. $10.6bn, up 12% YoY on a CC basis...

Below is Dolphin Research's Trans of $Salesforce(CRM.US) FY26 Q4 earnings call.

Key takeaways recap

Amid the 'AI killing SaaS' narrative, one of the hardest-hit names $Salesforce(CRM.US) reported FY2026 Q4 after the U.S. close this morning (period ended Jan 31), with overall results lukewarm.

GPM continued to decline under pressure, and opex rose meaningfully across the board.

Another key metric, cRPO (current remaining performance obligations), also grew slower than buy-side expectations, leading to a negative market reaction...

The following are the minutes of the FY26Q3 earnings call for $Salesforce(CRM.US) compiled by Dolphin Research. For an interpretation of the earnings report, please refer to the article "Salesforce: Is the AI Agent 'Delayed', and Has the SaaS Leader Become a Value Stock?" 1. Review of Core Financial Information Guidance: The company is still expected to reaccelerate revenue growth within the next 12 to 18 months. Net new AOV growth: Net new AOV growth in the second half of FY26 is expected to exceed AOV growth in the second half...

The SaaS leader $Salesforce(CRM.US), announced its Q3 FY2026 financial results (ending October 31) after the US stock market closed on December 4. The performance for the quarter was not good, with most key metrics falling short of market expectations. The relatively comforting aspect is that leading indicators (cRPO and new orders) showed a slight improvement on a low base. The highlight is that the company guided for significant growth improvement in the next quarter, mainly due to the consolidation impact of the acquisition of Informatica. Specifically: 1. Overall revenue growth continues to slow down...

The following are the minutes of the Q2 FY2026 earnings call for $Salesforce(CRM.US), organized by Dolphin Research. For an interpretation of the earnings report, please refer to "Salesforce: Is AI a 'Savior' or a 'Death Knell'?" 1. Core Financial Information Review: 1. Agentforce Product and Business Highlights Agentforce and Data Cloud: AI and data product annualized revenue (ARR) reached $1.2 billion, a year-on-year increase of 120%...

On September 4th, after the U.S. stock market closed, the SaaS leader $Salesforce(CRM.US) released its financial report for the second quarter of fiscal year 2026. The performance for the quarter was relatively stable (or rather, lackluster). There were no significant signs of accelerated growth, but through excellent cost control, a slightly better-than-expected profit was squeezed out. However, this does not change the core issues, and the guidance for the next quarter is also not impressive, leaving an overall weak impression. The detailed points are as follows: 1. Growth appears to have accelerated, but it is more due to favorable exchange rates: On the growth side, the core business—subscription revenue grew by 10.6% year-on-year this quarter, showing some acceleration compared to 8.3% in the previous quarter, slightly exceeding market expectations by 1 percentage point...