Person
President and Chief Financial and Operating Officer of Salesforce, overseeing the enterprise software company's finance and operations functions.
Agentforce and Data 360 annual recurring revenue is real and it recurs. Almost everything else in the quarter landed within a rounding error of consensus, or came from paper marks.
Perspective Coverage
3 publishersReality
Salesforce put about $50 million into Anthropic in 2023 and kept buying in rounds it has not sized. Its ownership share is undisclosed, so the 100-times figure measures one payment.
Reality
A 23% one-day move rewarded an EPS figure that doubled while operating income stayed flat, and the arithmetic behind it runs through a $2,613M investment mark-up and 141 million shares retired on borrowed money.
Reality
cRPO of $33.5bn, up 14%, is the metric the market trades on. $440m of Informatica revenue now sits inside the subscription line that feeds it. Back out the current portion and the remainder grew about 8%.
Reality
Adjusted EPS came in at $5.90 against a $3.27 consensus. The revenue beat was 0.26% and the full-year raise 0.43%, which is where the question about agents and seats actually sits.
Reality
Contracted revenue due in the next twelve months grew 14%, faster than the full book. But the $200 million guidance raise is, arithmetically, the two pending acquisitions.
Reality
A $25 billion accelerated repurchase, funded with new debt, was the biggest capital decision of the quarter. The guidance arithmetic puts second-half organic growth about where the first quarter left it.
Reality
Fourth-quarter revenue grew 12 percent with $399 million of it acquired, and Agentforce ARR reached $800 million. The CFO's actual promise is organic reacceleration in the second half of FY27.
Reality