Salesforce Inc ( CRM ) reported first-quarter financial results after the market close on Wednesday. Here’s a rundown of the enterprise cloud solutions company’s report.

Q1 Earnings: Salesforce ( CRM ) reported first-quarter revenue of $9.83 billion, beating the consensus estimate of $9.75 billion. The company reported first-quarter adjusted earnings of $2.58 per share, beating analyst estimates of $2.55 per share, according to Benzinga Pro.

Total revenue was up 8% on a year-over-year basis. Operating margin came in at 19.8%, or 32.3% on an adjusted basis. Cash flow from operations was up 4% year-over-year to $6.5 billion and free cash flow was up 4% year-over-year to $6.3 billion. The company ended the quarter with remaining performance obligations of $29.6 billion, up 12% year-over-year.

Salesforce ( CRM ) repurchased $2.7 billion worth of its stock in the quarter and returned $402 million to shareholders in the form of dividend payments. The company said it had approximately $10.93 billion in cash and cash equivalents at the quarter’s end.

“We’ve built a deeply unified enterprise AI platform — with agents, data, apps and a metadata platform — that is unmatched in the industry. With Agentforce, Data Cloud, our Customer 360 apps, Tableau, and Slack all built on one trusted, unified foundation, companies of every size can build a digital labor force — boosting productivity, reducing costs and accelerating growth,” said Marc Benioff, chair and CEO of Salesforce ( CRM ).

Outlook: Salesforce ( CRM ) expects second-quarter revenue to be in the range of $10.11 billion to $10.16 billion versus estimates of $10.01 billion. The company anticipates second-quarter adjusted earnings of $1.80 to $1.82 per share versus estimates of $1.71 per share.

Salesforce ( CRM ) also raised its fiscal-year 2026 revenue guidance to a range of $41 billion to $41.3 billion versus estimates of $40.83 billion. The company raised its full-year adjusted earnings guidance to $7.15 and $7.21 per share versus estimates of $7.24 per share.

“I’m pleased by our momentum as we capitalize on the exciting agentic AI opportunity,” said Robin Washington, president, COO and CFO of Salesforce ( CRM ). 

Salesforce ( CRM ) noted that it anticipates a currency tailwind due to the weakening of the U.S. dollar. Salesforce ( CRM ) executives will further discuss the quarter on a conference call with investors and analysts at 5 p.m. ET.

CRM Price Action: Salesforce ( CRM ) shares were up 1.55% in after-hours, trading at $280.50 at the time of publication Wednesday, according to Benzinga Pro.

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