Salesforce Shares Lower Despite Record Q1 Results as Agentforce AI ARR Tops $1.2 Billion

Salesforce (NYSE: CRM) shares edged around 1.4% lower in post-market trading on Wednesday after the enterprise software giant delivered a blockbuster fiscal first quarter, smashing earnings expectations and raising its full-year revenue outlook.

The San Francisco-based company reported Q1 FY2027 revenue of $11.1 billion, up 13% year-over-year and ahead of the Wall Street consensus of $11.05 billion. GAAP diluted EPS surged 52% to $2.42, while non-GAAP EPS of $3.88 — up 50% year-over-year — blew past analyst estimates of $3.11 per share.

Operating cash flow hit $6.7 billion and free cash flow reached $6.6 billion, both up modestly from a year ago. The non-GAAP operating margin expanded to 34.8%, up from 32.3% in the prior-year period.

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The headline story was Salesforce’s artificial intelligence momentum. Agentforce ARR reached $1.2 billion, up 205% year-over-year, while combined AI and Data 360 ARR climbed to nearly $3.4 billion — more than tripling from a year ago. The company delivered 3.8 billion Agentic Work Units to customers, growing 111% quarter-over-quarter. Slack’s Model Context Protocol surpassed 1 million active users within just six weeks of launch.

“This was an outstanding quarter for Salesforce — record revenue, record deals, and cash flow,” said CEO Marc Benioff. “Agentic AI is the biggest growth opportunity for our customers, and for Salesforce.”

Salesforce also raised the midpoint of its full-year FY27 revenue guidance to $45.9–$46.2 billion, up 11% year-over-year, and entered into a massive $25 billion accelerated share repurchase agreement. The stock closed the regular session at $178.44 before the post-earnings pop.