Salesforce is currently a pioneer in CRM worldwide. Its mission is to enable companies of all calibers across industries to transform digitally. So it's clear that its business is succeeding as companies and governments around the world become more engaged in digital transformation. Salesforce's strong second quarter results confirm this reality.
Salesforce's Q2 2021 business generated $6.34 billion in revenue. This is a 21% improvement in constant currency and a 23% increase year-over-year.
This performance was driven by a 22% year-on-year increase in revenues from subscriptions and other media to $5.91 billion. Revenues from professional and other services amounted to $0.43 billion. This is a 37% increase over the same period last year.
This is Salesforce's fifth consecutive phenomenal quarter. The second quarter performance is an all-time high, as the company has never experienced such great momentum before. All of its products are worth more than $1 billion and are ensuring the company's unprecedented success.
In this all-digital world, Salesforce has a Customer 360 platform that is now being fed by a herd of unicorns. A method that is well known in the industry. This advance has literally benefited the company's sales business, which has grown. Logically, the GAAP operating margin stands at 5.2% at the end of this second quarter of 2021. On a non-GAAP basis, the business over this period generated 20.4% operating margin.
On a GAAP basis, Salesforce Group delivered diluted earnings per share of $0.56 in Q2 2021. But this performance indicator is $1.48 on a non-GAAP basis. GAAP diluted EPS benefited by US$0.42 due to the recognition of Salesforce's strategic investments in the market value. Note that the U.S. tax rate under these conditions is 25% (21.5% non-GAAP).
Non-GAAP adjusted EPS benefited by US$0.43 due to the same investments.
Salesforce's continuing operations in the second quarter of 2021 generated $0.39 billion as cash in hand. This is significantly lower than their level a year ago (-10%). At the end of the quarter, cash and cash equivalents (including marketable securities) totaled $9.5 billion.
With this financial position and quarterly performance, Salesforce has raised its guidance for the current year again. The company expects to generate revenue in the range of $26.2 billion to $26.3 billion for the full year. It expects to achieve $6.78 billion to $6.79 billion in sales in the third quarter of the current fiscal year.
The group expects an adjusted operating margin of 18.5% for the year.