Salesforce Non-GAAP EPS of $3.81 beats by $0.76, revenue of $11.2B in-line

Salesforce press release (CRM): Q4 Non-GAAP EPS of $3.81 beats by $0.76.
Revenue of $11.2B (+12.1% Y/Y) in-line.
Current remaining performance obligation of $35.1 billion, up 16% year-over-year (“Y/Y”) and 13% in constant currency (“CC”), including 4pts Informatica contribution
Remaining performance obligation of $72.4 billion, up 14% Y/Y
Fourth quarter subscription & support revenue of $10.7 billion, up 13% Y/Y and 11% in CC, including $388 million Informatica contribution
Guidance
- Initiates full year FY27 revenue guidance of $45.8 billion to $46.2 billion vs $46.01B consensus, up 10% – 11% Y/Y and in CC, including approximately 3pts Informatica contribution
- Expects organic revenue re-acceleration in the second half of FY27
- Initiates full year FY27 subscription & support revenue growth guidance of slightly under 12% Y/Y and approximately 11% in CC, including approximately 3pts Informatica contribution
- Initiates full year FY27 GAAP operating margin guidance of 20.9%, and non-GAAP operating margin guidance of 34.3%
- Initiates full year FY27 operating cash flow growth guidance of approximately 9% – 10% Y/Y
- Raises full year FY30 revenue target to $63 billion including Informatica

Q1 FY27 Guidance
	GAAP	Non-GAAP⁽¹⁾
Revenue	$11.03 – $11.08 billion vs $10.98B consensus	N/A
Revenue growth⁽²⁾	12% – 13%	10% – 11% CC, $175M Y/Y FX
Revenue growth⁽²⁾	Includes slightly above 4pts Informatica contribution
Diluted net income per share	$1.77 – $1.79	$3.11 – $3.13
Current remaining performance obligation growth⁽³⁾	Approximately 14%	Approximately 13% CC,$100M Y/Y FX