Salesforce Faces Revenue Miss and Slower AI Growth Expectations

Despite strong earnings and early adoption of its Agentforce AI platform, Salesforce's cautious fiscal 2026 guidance has raised investor concerns.

Salesforce reported Q4 fiscal 2025 revenue of $9.99 billion, falling short of analyst expectations of $10.04 billion, though earnings per share exceeded forecasts at $2.78.
The company introduced its second-generation AI platform, Agentforce, which has attracted over 3,000 paying customers since its October launch but is expected to contribute meaningfully to revenue only by fiscal 2027.
Fiscal 2026 guidance forecasts revenue between $40.5 billion and $40.9 billion, below the analyst consensus of $41.35 billion, with projected EPS also slightly under expectations.
CEO Marc Benioff emphasized the role of AI in driving productivity and described a 'digital labor revolution,' but slower enterprise spending is tempering growth in key business areas.
Salesforce shares have dropped approximately 11% year-to-date, reflecting investor concerns over competitive pressures and the pace of AI monetization.