Salesforce reported first-quarter fiscal 2027 revenue of $11.13 billion. Adjusted earnings per share reached $3.88, surpassing Wall Street expectations.
The Agentforce AI platform saw annual recurring revenue grow 205% year-over-year to $1.2 billion. CEO Marc Benioff stated that AI agents are increasingly managing enterprise workflows, signaling a shift from traditional SaaS models.
Salesforce shares declined after the company provided a mixed outlook for the second quarter and full fiscal year 2027. Revenue guidance for these periods fell slightly below consensus estimates.
Investor sentiment reflects broader concerns regarding AI disruption within the software industry. Analysts from DA Davidson, BMO Capital, Wells Fargo, and TD Cowen lowered their price targets following the report.