CRM
Salesforce, Inc.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Salesforce, Inc.
Salesforce, Inc. provides customer-relationship-management and enterprise cloud software. Its Customer 360 platform includes Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Slack, Data Cloud, Tableau analytics, MuleSoft integration, and Einstein / Agentforce AI applications. Customers subscribe to applications delivered as software-as-a-service across industries.
Coverage
Salesforce's 'New' $63 Billion Target Is February's. It Needs 10% Organic Growth, and July's Quarter Grew 7%.
CNBC called Salesforce's 'over $63 billion' for fiscal 2030 a beat. February set it. Its organic part needs 10% a year; July-quarter subscriptions grew 7.1%.
Salesforce Earned $4.29 a Share and Its Operating Income Fell by $1 Million
Salesforce grew revenue 10.8% and GAAP EPS 119%, while operating income fell $1M. The gap is investment gains, a 14.7% smaller share count, and Informatica.
Salesforce Spent $27.1B on Buybacks Funded by $25B of Debt. Its 12% EPS Growth Is Share Count.
Salesforce reports 26 August. Consensus says 12.4% EPS growth; the company's own guide implies non-GAAP net income flat to down at any plausible share count.
We Named Three Companies That Would Answer the AI Demand Question. Salesforce Was the Missing One.
Salesforce's growth bottomed at 7.6% and re-accelerated to 13.3%, its fastest in thirteen quarters — and our quarterly Rule of 40 is the worst place to read it.
Where the revenue goes next
Latest: $11.35B (2026Q3)
| Period | Value |
|---|---|
| 2020Q4 | $5.42B |
| 2021Q1 | $5.82B |
| 2021Q2 | $5.96B |
| 2021Q3 | $6.34B |
| 2021Q4 | $6.86B |
| 2022Q1 | $7.33B |
| 2022Q2 | $7.41B |
| 2022Q3 | $7.72B |
| 2022Q4 | $7.84B |
| 2023Q1 | $8.38B |
| 2023Q2 | $8.25B |
| 2023Q3 | $8.60B |
| 2023Q4 | $8.72B |
| 2024Q1 | $9.29B |
| 2024Q2 | $9.13B |
| 2024Q3 | $9.32B |
| 2024Q4 | $9.44B |
| 2025Q1 | $9.99B |
| 2025Q2 | $9.83B |
| 2025Q3 | $10.24B |
| 2025Q4 | $10.26B |
| 2026Q1 | $11.20B |
| 2026Q2 | $11.13B |
| 2026Q3 | $11.35B |
Latest: $4.29 (2026Q3)
| Period | Value |
|---|---|
| 2020Q4 | $1.15 |
| 2021Q1 | $0.27 |
| 2021Q2 | $0.50 |
| 2021Q3 | $0.56 |
| 2021Q4 | $0.47 |
| 2022Q1 | −$0.05 |
| 2022Q2 | $0.03 |
| 2022Q3 | $0.07 |
| 2022Q4 | $0.21 |
| 2023Q1 | −$0.10 |
| 2023Q2 | $0.20 |
| 2023Q3 | $1.28 |
| 2023Q4 | $1.25 |
| 2024Q1 | $1.47 |
| 2024Q2 | $1.56 |
| 2024Q3 | $1.47 |
| 2024Q4 | $1.58 |
| 2025Q1 | $1.75 |
| 2025Q2 | $1.59 |
| 2025Q3 | $1.96 |
| 2025Q4 | $2.19 |
| 2026Q1 | $2.07 |
| 2026Q2 | $2.42 |
| 2026Q3 | $4.29 |
Latest: 16.8 (2026Q3)
| Period | Value |
|---|---|
| 2020Q4 | 59.9 |
| 2021Q1 | 50.8 |
| 2021Q2 | 47.6 |
| 2021Q3 | 96.0 |
| 2021Q4 | 163.6 |
| 2022Q1 | 153.2 |
| 2022Q2 | 168.8 |
| 2022Q3 | 336.7 |
| 2022Q4 | 573.7 |
| 2023Q1 | 790.3 |
| 2023Q2 | 515.8 |
| 2023Q3 | 139.8 |
| 2023Q4 | 75.4 |
| 2024Q1 | 66.1 |
| 2024Q2 | 47.9 |
| 2024Q3 | 44.6 |
| 2024Q4 | 47.6 |
| 2025Q1 | 53.4 |
| 2025Q2 | 41.8 |
| 2025Q3 | 37.4 |
| 2025Q4 | 34.7 |
| 2026Q1 | 27.2 |
| 2026Q2 | 20.4 |
| 2026Q3 | 16.8 |
Latest: $1.10B (2026Q3)
| Period | Value |
|---|---|
| 2020Q4 | $215M |
| 2021Q1 | $2.02B |
| 2021Q2 | $3.06B |
| 2021Q3 | $173M |
| 2021Q4 | $238M |
| 2022Q1 | $1.81B |
| 2022Q2 | $3.50B |
| 2022Q3 | $131M |
| 2022Q4 | $115M |
| 2023Q1 | $2.57B |
| 2023Q2 | $4.25B |
| 2023Q3 | $628M |
| 2023Q4 | $1.37B |
| 2024Q1 | $3.26B |
| 2024Q2 | $6.08B |
| 2024Q3 | $755M |
| 2024Q4 | $1.78B |
| 2025Q1 | $3.82B |
| 2025Q2 | $6.30B |
| 2025Q3 | $605M |
| 2025Q4 | $2.18B |
| 2026Q1 | $5.32B |
| 2026Q2 | $6.56B |
| 2026Q3 | $1.10B |
Latest: 823M (2026Q3)
| Period | Value |
|---|---|
| 2020Q4 | 939M |
| 2021Q1 | 915M |
| 2021Q2 | 940M |
| 2021Q3 | 950M |
| 2021Q4 | 1.00B |
| 2022Q1 | 985M |
| 2022Q2 | 1.00B |
| 2022Q3 | 1.00B |
| 2022Q4 | 1.00B |
| 2023Q1 | 1.00B |
| 2023Q2 | 988M |
| 2023Q3 | 986M |
| 2023Q4 | 981M |
| 2024Q1 | 968M |
| 2024Q2 | 985M |
| 2024Q3 | 973M |
| 2024Q4 | 965M |
| 2025Q1 | 957M |
| 2025Q2 | 970M |
| 2025Q3 | 962M |
| 2025Q4 | 952M |
| 2026Q1 | 937M |
| 2026Q2 | 871M |
| 2026Q3 | 823M |
Latest: $71.71B (2026Q3)
| Period | Value |
|---|---|
| 2020Q4 | $14.10B |
| 2021Q1 | $16.13B |
| 2021Q2 | $19.18B |
| 2021Q3 | $19.36B |
| 2021Q4 | $19.60B |
| 2022Q1 | $21.41B |
| 2022Q2 | $24.91B |
| 2022Q3 | $25.04B |
| 2022Q4 | $25.15B |
| 2023Q1 | $27.72B |
| 2023Q2 | $31.97B |
| 2023Q3 | $32.60B |
| 2023Q4 | $33.97B |
| 2024Q1 | $37.22B |
| 2024Q2 | $43.31B |
| 2024Q3 | $44.06B |
| 2024Q4 | $45.84B |
| 2025Q1 | $49.66B |
| 2025Q2 | $55.95B |
| 2025Q3 | $56.56B |
| 2025Q4 | $58.73B |
| 2026Q1 | $64.06B |
| 2026Q2 | $70.61B |
| 2026Q3 | $71.71B |
Latest earnings
Company History
Founded on March 8, 1999, by Marc Benioff and others as a SaaS company, with the first prototype launched in November 1999.
Went public on the NYSE in June 2004 under symbol CRM, raising US$110 million.
Passed $1 billion in annual revenue and launched Service Cloud for managing customer service conversations.
Announced Einstein, an artificial intelligence platform supporting cloud services, including a licensing deal for Albert Einstein
Announced $27.7 billion acquisition of Slack in December 2020, completed in July 2021, to integrate messaging with CRM.
Changed legal name from Salesforce.com, Inc. to Salesforce, Inc. in April 2022; surpassed SAP to become the world\
Laid off about 10% of staff (8,000 positions) in January 2023 due to over-hiring during the pandemic.
Launched Agentforce AI platform, betting heavily on autonomous AI agents for enterprise.
Pivoted away from AI agents after struggles with complex service; cut 4,000 support jobs, moving to
Key Players
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Funds we follow holding CRM
By latest reported 13F position value. Market value at quarter-end, not cost basis.
