Salesforce Inc. revenue increased year over year once again in its fiscal Q2 2025, which ended July 31, 2024.
The software company’s revenue has grown year over year every quarter since its fiscal 2021, which was in calendar year 2020. In that span, Salesforce revenue has also grown quarter over quarter with two exceptions — in its Q1, which ended April 30 this year, and in the prior Q1.
Additionally, Salesforce revenue in Q2 marked a new high for a single quarter, outperforming its quarter during the 2023 holiday season. That came at a time when U.S. ecommerce sales as a whole reached their all-time highest Q2 total.
Moreover, Salesforce net income grew to about $1.43 billion in Q2. That’s up from about $1.27 billion in the prior year’s second quarter. Part of that is due to Salesforce cutting 10% of its staff in January 2023. The job cuts cost the company $1.4 billion to $2.1 billion. As much as $1 billion of that came in its fiscal fourth quarter.
In North America, 76 of the top 2000 online retailers use Salesforce as their ecommerce platform, according to Digital Commerce 360 data. In 2023, those 76 online retailers combined for more than $136.077 billion in web sales.
Salesforce revenue continues to climb in Q2
In total, Salesforce revenue in Q2 reached about $9.33 billion. That’s up 8% year over year from $8.60 billion. Subscription and support accounted for the vast majority of that revenue, at $8.76 billion. That’s also up about 9% from about $8.01 billion.
Multi-cloud deals accounted for nearly 80% of new business for Salesforce in Q2. More than half of Salesforce’s top 100 deals included one of its industry clouds in Q2, chief operating officer Brian Millham told investors on the earnings call.
About 16,000 customers added a new cloud in Q2, chief financial officer Amy Weaver said on the same call. More than 4,500 of those customers added two or more clouds, she stated.
Salesforce revenue in the Americas during Q2 grew 7%, Weaver told investors. In Europe, the Middle East and Africa, Salesforce Q2 revenue grew 11%. And it grew 9% in the Asia-Pacific region.
On the earnings call, CEO Marc Benioff said Salesforce has “reimagined enterprise software for this new world of autonomous AI.”
He credited the company’s software engineering team for a “reduction of hallucinations,” calling the “level of capability of AI” unlike anything he has seen.
Einstein — Salesforce’s platform that allows users to connect their data, customer relationship management and more using artificial intelligence — delivered 25 trillion transactions across all Salesforce’s clouds during the quarter, Benioff told investors.
Salesforce unveils Agentforce, a new AI-powered platform
Benioff also announced the new Salesforce Agentforce platform, which offers clients “autonomous AI agents.”
These agents are capable of “advanced planning and reasoning with minimal human input, without a conversational prompt,” Millham wrote in an Aug. 29 blog post.
Benioff said Agentforce agents can be set up in minutes, are easily scalable and “work around the clock” in any language. He likened the agents to “trusted colleagues.”
“Agentforce is a deeply integrated platform combining our core metadata framework in Data Cloud and Einstein and extending the power of our Customer 360 apps in ways that we didn’t think possible a year ago, reducing cost, scaling workforces and dramatically improving customer and employee experiences, all without the headaches of complex, costly model training or DIY AI projects,” Millham told investors on the earnings call.
Agentforce runs on Salesforce’s Data Cloud platform. Benioff said Data Cloud is Salesforce’s fastest-growing organic product in company history.
“It will be the fastest product to $1 billion,” Benioff told investors. “It’s going to probably be the fastest product [to] $5 billion, $10 billion.”
He added that in Q2, the number of paid Data Cloud customers grew 130% year over year. Moreover, he said, the number of customers spending more than $1 million annually has doubled.
Personnel change at Salesforce
Benioff said Weaver will leave Salesforce after 11 years with the company.
“In particular, Amy has spearheaded our financial transformation,” Benioff said, elaborating that her contributions resulted in an “unprecedented margin expansion, increased operational excellence, financial discipline” and “continued strategic investments.”
Although Salesforce did not specify a date, Benioff said Weaver will remain with the company until the end of the fiscal year. She will also help onboard the new CFO, Benioff said.
Percentage changes may not align exactly with dollar figures due to rounding. Check back for more earnings reports. Here’s last quarter’s update on Salesforce revenue.
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