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Salesforce reported fiscal 2026 revenue of $41.5 billion and nine-month FY2026 revenue of $30.3 billion. The thesis depends on subscription growth, Data Cloud and AI adoption, margin discipline, cash conversion and capital allocation.
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Adobe's numbers still look like a software toll road. The debate is whether Firefly, Acrobat AI, CX Enterprise, and Semrush turn AI into more toll lanes or let customers route around the booth.
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