Salesforce — scorecard queued

Scorecard for Salesforce (NYSE: CRM) will be built about five trading days before the report. Salesforce reported Q2 FY2027 on 26 Aug 2026 (CNBC), so the next print is Q3 FY2027; 2 Dec 2026 is the estimate carried by TipRanks and StockAnalysis and will be replaced when IR confirms.

Research log

• 2026-06-04 · ingest — McKinsey's 2022–24 big-tech data: Salesforce headcount -8.4% while revenue +11.2%, cited with Benioff's signal of no new software-engineer hires in 2025 as proof that headcount and value have decoupled. Source: Headcount-to-Value Pivot
• 2026-06-13 · economist — Salesforce, ServiceNow and Workday down ~34% year to date; the per-seat model erodes because agents "don't need seats"; BofA's Liani: "the risk is cannibalisation". Source: Fear of the SaaSpocalypse (Economist)
• 2026-08-08 · economist — The Economist holds Salesforce out as the rare enterprise-scale AI-transition platform: it maps employees' skills to internal roles, recommends training and reimburses qualifications. Caveat: no placement or retention metrics published. Source: Can America Retrain Workers Before AI Leaves Them Behind (Economist)
• 2026-08-26 · web — Q2 FY2027: revenue $11.35B (+11%), adjusted EPS $5.90 including a $2.6B gain on its Anthropic stake, Agentforce ARR above $1.5B (+240%), cRPO $33.5B, FCF $1.10B (+81%); Q3 guided $11.42–11.50B. Stock +18%. Benioff: "This is not the SaaSpocalypse." Source: CNBC
• 2026-09-15 · ingest — Koa, a CRM-tuned reasoning model, announced at Dreamforce: in pilot, trained on synthetic data shaped by twenty years of real CRM flows. Source: The End of the App Era What Comes Next (Nate B Jones)
• 2026-09-27 · ingest — Paula Goldman: Salesforce hired ~1,000 new grads and interns in 2026 against the sector pullback; service staff redeployed to forward-deployed engineering as AI absorbs service work; an HR division maps tasks to skills to design new roles. Source: How AI Is Changing Talent Not Just Tasks (HBR IdeaCast)
• 2026-10-24 · ingest — Nate B. Jones reads Salesforce as playing all three layers: the 20-year data layer, an agent gateway for anyone's agents, and Koa; the Claude partnership with Anthropic forward-deployed engineers exists to "sell optionality". Source: The End of the App Era What Comes Next (Nate B Jones)
• 2026-10-24 · ingest — Agent lock-in replaces the SaaS moat: the trained agent gets harder to leave while the tool gets easier, which explains selling "any agent on our data" rather than only its own. Source: Agent Lock-In
• 2026-10-27 · thesis — The ServiceNow refresh names Salesforce's Dreamforce pitch (Koa, optionality via Claude, an open agent gateway) the peer counter-strategy to forced AI bundling. Source: ServiceNow Earnings Reaction — Forced AI Bundling and Retention Risk
• 2026-10-29 · last30days — Hit in sympathy with ServiceNow's 27% fall as 24/7 Wall St called NOW the canary for seat-based software; CRM slid from $242 on 28 Oct to $226 by 2 Nov. Source: 24/7 Wall St