Stock Analysis on Net
Stock Analysis on Net

Salesforce Inc. (NYSE:CRM)

$24.99

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Salesforce Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Apr 30, 2026 Jan 31, 2026 Oct 31, 2025 Jul 31, 2025 Apr 30, 2025 Jan 31, 2025 Oct 31, 2024 Jul 31, 2024 Apr 30, 2024 Jan 31, 2024 Oct 31, 2023 Jul 31, 2023 Apr 30, 2023 Jan 31, 2023 Oct 31, 2022 Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 Jul 31, 2020 Apr 30, 2020
Subscription and support
Professional services and other
Revenues
Subscription and support
Professional services and other
Cost of revenues
Gross profit
Research and development
Sales and marketing
General and administrative
Restructuring
Operating expenses
Income (loss) from operations
Interest expense
Gains (losses) on strategic investments, net
Other income (expense)
Income (loss) before (provision for) benefit from income taxes
(Provision for) benefit from income taxes
Net income

Based on: 10-Q (reporting date: 2026-04-30), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30).

A consistent upward trajectory in total revenues is observed from April 2020 through April 2026, with quarterly figures increasing from 4,865 million US dollars to 11,133 million US dollars. This growth is primarily driven by the subscription and support segment, which expanded from 4,575 million US dollars to 10,593 million US dollars over the period. In contrast, professional services and other revenues peaked in October 2022 at 604 million US dollars and subsequently entered a period of relative stagnation and slight decline, ending at 540 million US dollars in April 2026.

Gross Profit and Margin Performance
Gross profit exhibited steady growth, rising from 3,611 million US dollars to 8,563 million US dollars. While the cost of revenues increased in absolute terms, the growth rate of gross profit remained aligned with total revenue expansion. The cost of revenues associated with professional services remained high relative to the revenue generated by that segment, suggesting a lower margin profile for services compared to subscription offerings.
Operating Expense Analysis
Operating expenses showed significant volatility and an overall increase. Research and development costs grew steadily from 859 million US dollars to 1,627 million US dollars, reflecting continued investment in product innovation. Sales and marketing expenses remained the largest operational outlay, peaking at 4,017 million US dollars in January 2026. A notable pattern of restructuring charges emerged starting in January 2023, with recurring costs throughout the latter half of the analyzed period, indicating periodic organizational realignments.
Operating Income and Efficiency
A significant transition in operational profitability is evident. Income from operations evolved from a loss of 140 million US dollars in April 2020 to a gain of 2,347 million US dollars by April 2026. This improvement suggests successful scaling of the business model, where revenue growth began to outpace the increase in operating expenses, particularly from July 2023 onwards.
Net Income and Non-Operating Factors
Net income displayed considerable volatility in the early years, heavily influenced by fluctuating gains or losses on strategic investments and varied tax provisions. However, from 2023 through 2026, net income stabilized and trended upward, reaching 2,107 million US dollars in the final quarter. The introduction of interest expense in April 2026 suggests a recent change in the capital structure or the acquisition of new debt.

The overall financial trend indicates a transition from a high-growth, low-profitability phase toward a more mature operational model characterized by strong operating leverage and consistent bottom-line growth, despite intermittent restructuring costs and volatile non-operating income.