EnterpriseCRMAUG 27, 2026

CRM +22% as Agentforce ARR hits $1.5B and Anthropic 'Claudeforce' pact kills the SaaSpocalypse trade

Salesforce's Q2 FY27 print — Agentforce ARR up 240% Y/Y, 3.2B agentic work units in the quarter, and a plugin bringing Claude into the CRM — drove the stock's second-best session ever.

BY GRETA REINHART · ENTERPRISE SAAS

Salesforce closed Thursday up 22%, its second-best single session ever, trailing only the roughly 26% rip in August 2020. The SaaSpocalypse trade, the year-long thesis that agentic AI was hollowing out seat-based software, got repriced in a single tape. The iShares Expanded Tech-Software ETF jumped about 5% on the day, dragging Adobe, ServiceNow, Palantir, Autodesk, and Figma along with it.

The numbers under the move are the point. Fiscal Q2 2027 revenue of $11.35 billion beat the $11.32B consensus and grew 11% year over year. Adjusted EPS of $5.90 landed against an LSEG consensus of $3.27, boosted by a $2.6 billion gain on Salesforce’s Anthropic stake (Anthropic was valued at $965 billion in its May funding round). GAAP net income hit $3.53 billion, or $4.29 a share, up 87% from $1.89 billion a year ago. Free cash flow rose 81% to $1.1 billion, versus a StreetAccount consensus of $643.2 million.

Then the agentic disclosures. Agentforce ARR crossed $1.5 billion in the quarter ended July 31, up more than 240% year over year and accelerating from over 200% a quarter earlier. Combined with Data 360, that ARR line is nearly $3.9 billion, growing above 210%. Salesforce ran 3.2 billion Agentic Work Units in the quarter, up 97% sequentially, bringing the lifetime total to 7.0 billion. Agentforce One Edition and Agentforce for Apps bookings more than doubled sequentially. 2,000 paying Agentforce customers moved into production, a 70% Q/Q jump. Data 360 ingested 104 trillion records, up 355% Y/Y, with 82 trillion via Zero Copy. Current remaining performance obligation reached $33.5 billion, up 14% in constant currency.

The Anthropic pact, branded Claudeforce, gives Salesforce a “Salesforce in Claude” plugin with 37 prebuilt sales skills, plus Claude availability through Amazon Bedrock inside the stack. Internally, Slackbot passed 1 million active users (up 150% Q/Q) and generated 8.1 million hours of annualized productivity gains, more than 2x Q/Q. CEO Marc Benioff and COO Robin Washington noted nine of the top 10 AI companies now use Salesforce and Slack, with their spend up 435% year over year.

Guidance moved too: full-year FY27 revenue raised to $46.1B–$46.4B, a $300 million constant-currency raise ($100M organic, $200M from pending Contentful and Fin acquisitions, offset by $100M FX), with Fin valued at $3.6 billion and a $1.6 billion contract inked with the U.S. Department of Veterans Affairs.

Every incumbent whose narrative was “agents will disintermediate us” now has a market-priced counterexample.

Sources

About the author

Greta Reinhart

ENTERPRISE SAAS

Greta Reinhart tracks the enterprise software stack from San Francisco — data platforms, AI bundling, seat pricing, and channel checks across the largest SaaS vendors. She files on go-to-market shifts, packaging changes, and quarterly enterprise reads.