Leverage Shares 2X Long CRM Daily ETF

Below is Dolphin Research’s Trans of the $Salesforce(CRM.US) FY27 Q1 earnings call. For our analysis, see 'Salesforce: neither growth nor profit — can the AI story still hold?'

I) Key takeaways: 1) Record shareholder returns. The company executed a $25bn accelerated share repurchase (ASR), the largest in its history and half of the $50bn buyback authorization. The ASR reduced diluted shares outstanding in Q1 by 10% YoY...

As the legacy SaaS bellwether under pressure from the 'AI replacement' narrative, $Salesforce(CRM.US) reported FY27 Q1 (ended Apr.) after the U.S. close on May 28. Overall, the print was muted.

The quarter was fine, with most metrics roughly in line with the Street. There was little to flip the narrative.

Forward guide skewed soft. With no clear sign of revenue re-acceleration, management trimmed the margin outlook.

Specifically: 1) Growth remains uneventful. Core subscription revenue was approx. $10.6bn, up 12% YoY on a CC basis...