Salesforce reported first-quarter revenue of $11.13 billion, above the estimate of $11.05 billion, with adjusted earnings per share of $3.88, beating forecasts of $3.12, for its fiscal quarter ended April 30 [1, 2, 3]. CEO Marc Benioff said the company secured 98 new deals worth over $1 million each in annual contract value during the quarter [1, 3].

Quarterly subscription and support revenue grew 14%, surpassing analyst expectations [1]. Remaining performance obligation—the contracted revenue not yet recognized—stood at $67.9 billion, slightly below the consensus estimate of $68.61 billion [2, 3].

Salesforce promoted its AI-agent platform, Agentforce, which automates customer service tasks without human oversight. Annualized revenue from Agentforce reached about $1.2 billion, up from $800 million earlier this fiscal year, marking a 205% year-over-year increase [4, 2, 3].

Despite these gains, Salesforce forecast second-quarter revenue between $11.27 billion and $11.35 billion, just below analysts’ average estimate of $11.36 billion [4, 1, 2]. The company raised its full-year revenue guidance to between $45.9 billion and $46.2 billion, implying about 11% growth, and boosted full-year adjusted earnings per share guidance to between $14.06 and $14.12 [2].

Shares of Salesforce have declined nearly 33% in 2026 after falling more than 20% in 2025, as investor concerns linger about AI-driven disruption reducing demand for Salesforce’s traditional software products [4, 1, 2, 3]. Some analysts remain unconvinced that AI will drive enough revenue acceleration to reverse the stock’s downtrend [4, 3].

Rebecca Wettemann, CEO of Valoir, said, "The next few quarters will be critical to Salesforce, both to show the value its core customers are getting from per-seat licenses and its Agentforce customers are getting from AI" [4]. Benioff expressed confidence that "revenue growth will reaccelerate in the second half of this fiscal year" [3].

Salesforce’s cautious revenue forecast and ongoing AI disruption fears were detailed in its latest earnings report on May 27 [4, 1, 2, 3]. The market will watch closely for the company’s Q2 results and execution on its AI offerings.