Salesforce booked a large quarterly profit, but little of it arrived as cash

Salesforce, the US cloud software company, earned a net profit of USD 3.5bn on revenue of USD 11.3bn in the quarter ended July 2026. Revenue grew 10.8% year on year. Operating profit was USD 2.3bn, so the net figure is the larger one. Cash from operations was only USD 1.3bn, which is 36.0% of net profit. A quarter that looks rich on the income statement was far leaner in the cash flow statement.

Profit and cash part ways when revenue is booked before it is billed, or when profit includes gains that bring in no money. Net profit above operating profit is a reason to look at the second. Cash on the balance sheet fell 19.8% in a year to USD 8.3bn, and the equity ratio dropped to 35.0% from 62.9%. Kurzy.cz also reported that Salesforce agreed to buy Braze, a marketing platform that uses artificial intelligence. I would watch the cash line, because a net profit of USD 3.5bn did not turn into cash this quarter.