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Revenue across all divisions increased 14.2% compared to Q1, driven primarily by growth in the enterprise SaaS segment. Operating margins improved by 230 basis points year-over-year as cost optimization initiatives continued to deliver measurable results. The board has approved an expanded share buyback program of up to $2.3 billion through Q4.
Total revenue reached $8.47 billion, surpassing guidance by approximately $320 million. GAAP net income was $1.84 billion ($1.62 per diluted share), compared to $1.51 billion ($1.33 per diluted share) in Q1 2026. Free cash flow generation remained robust at $2.1 billion, supporting continued investment in strategic growth initiatives and returning capital to shareholders.
Enterprise SaaS revenue grew 22% year-over-year to $3.6 billion, with net dollar retention rates remaining above 125% for the seventh consecutive quarter. Cloud infrastructure services revenue increased 31% to $2.1 billion, driven by expanded customer deployments and higher average contract values.