Salesforce (CRM) Grew Agentforce and Data 360 ARR More Than 200%. Is AI Finally Becoming Material to Growth?

Salesforce (CRM) reported a 11% year-over-year increase in fiscal Q2 2027 revenue to $11.345 billion. The company's Agentforce and Data 360 annual recurring revenue (ARR) reached nearly $3.9 billion, marking a more than 210% increase. Agentforce ARR alone exceeded $1.5 billion and grew over 240%. ARR is an operating metric and not GAAP revenue, but it demonstrates the growing importance of the AI and data portfolio.

Notably, $1.1 billion of the combined ARR came from Informatica Cloud. The company's current remaining performance obligations (RPO) increased by 14% to $33.5 billion, demonstrating strong demand and near-term visibility. However, RPO growth does not solely reflect organic growth due to factors like acquisitions, contract renewals, and duration.

Salesforce also reported that bookings from Agentforce One Edition and Agentforce for Apps more than doubled sequentially, with the two systems delivering 3.2 billion Agentic Work Units, a task executed by AI agents in production. Cash generation strengthened as well, with operating cash flow increasing by 71% to $1.269 billion and company-defined free cash flow rising 81% to $1.098 billion.

The growth at Salesforce still includes a significant contribution from the Informatica acquisition, which generated $456 million in quarterly revenue. The AI products, particularly Agentforce and Data 360, are gaining scale, but the question remains whether this momentum can translate into growth across Salesforce's larger business.