Salesforce is expected to report first-quarter fiscal 2027 earnings on Thursday that exceed Wall Street consensus estimates, as the San Francisco-based customer relationship management leader continues to benefit from robust enterprise demand for its Agentforce AI automation platform. Analysts tracking the company heading into the print have set a consensus EPS estimate near $2.55 on revenue approaching $9.8 billion, with upside risk driven by faster-than-anticipated adoption of AI agent-based workflow tools.
The company's Agentforce product, which allows businesses to deploy autonomous AI agents across sales, service, and marketing functions, has been a key commercial focus since its launch in late 2024. Management commentary in recent quarters has pointed to a growing pipeline of Agentforce deals, with several high-profile global enterprises committing multi-year contracts. Thursday's results are expected to include updated metrics on Agentforce paid customer counts, a number Wall Street will scrutinise closely as a leading indicator of long-term subscription revenue growth.
Beyond AI, Salesforce's core cloud businesses — Sales Cloud, Service Cloud, and MuleSoft — are expected to show steady mid-to-high single-digit growth, supported by ongoing digital transformation spending from large enterprises despite a cautious macroeconomic backdrop. The company's Data Cloud, which underpins many Agentforce deployments by unifying customer data, is forecast to post accelerating revenue as clients expand their data infrastructure commitments.
CEO Marc Benioff is anticipated to use the earnings call to reinforce Salesforce's positioning as the primary enterprise AI platform vendor, drawing contrasts with Microsoft Dynamics and ServiceNow in a competitive landscape that has intensified over the past 18 months. Investor attention will also focus on any updated full-year guidance, with analysts expecting a modest raise if first-quarter bookings trends confirm the Agentforce momentum signalled at the company's Dreamforce conference last autumn.
Shares of Salesforce have outperformed the broader software sector year-to-date, and options markets are pricing in a roughly 7% move in either direction on earnings day. A beat-and-raise outcome would likely push the stock toward its 52-week high, while any softness in remaining performance obligations — a key forward revenue indicator — could trigger a pullback. Most analysts maintain Buy or Overweight ratings, with price targets clustered in the $340–$370 range heading into the print.