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salesforce earnings call 2020

The company is committed to customer success and giving back through pledge 1% right from the very beginning. “It’s humbling to have had one of the best quarters in Salesforce’s history against the backdrop of multiple crises seriously affecting our communities around the world,” said Marc Benioff, Chair and CEO of Salesforce. Should Slack Shareholders Be Happy With This Deal? It's a critical part of their trusted relationship with their customers. While we wrap up the call now, I just want to thank all of you for coming to Dreamforce. Salesforce's Slack Acquisition Could be Huge, or a Huge Flop, Worried About a Stock Market "Crash?" On a trailing 12 month basis, we were pleased to deliver free cash flow growth of approximately 31%. I am delighted to be with you. Individual interested in registering for the company’s earnings conference call can do so using this link. When you do purchase accounting and the writedowns and such, you should think about it in that way, for sure, but we haven't elected to go specific on that one. salesforce.com, inc. (CRM) ... Q1 2021 Earnings Call Corrected Transcript 28-May-2020 ... salesforce.com, inc. (CRM) Q1 2021 Earnings Call Corrected Transcript 28-May-2020 It was, by far, the biggest deal we've ever done, significant and far more exciting than we could have ever imagined. Every CEO we meet around the world is deeply committed to transforming their business around their customer, and they're reliant on Salesforce as their trusted digital advisor. Einstein Vision is a key part of that. Total revenue for the third quarter was $4.513 billion, including approximately $327 million from Tableau and $80 million from Salesforce.org. So, the playbook that we ran with Mule, we will run the exact same playbook I would echo both Mark and Bret's comments earlier, the enthusiasm for Tableau alone was great. And I'm sitting here with Parker Harris, my Co-Founder and CTO. Revenue grew 20.1% on a year-over-year basis. [Indecipherable] I was just going to say as a platform for change, what's the greatest impact you can hope to achieve in the next couple of decades? I just was up there, amazing company. Well, number one, I think all of our hearts go out to all of the families around the world who have been impacted by the coronavirus and certainly, the world governments and their impact to contain what is possibly going to be a serious pandemic. One is Adam Selipsky, who's the CEO of Tableau, who is an incredible part of our management team and has provided unbelievable value in the short time he's been here. Let's conquer your financial goals together...faster. And I'm going to ask Keith to take this next, but you mentioned MuleSoft, you mentioned Tableau, this is critical for our customers to move forward. Deluxe is also partnering with Salesforce to offer Salesforce Essentials, the world's number one CRM product purpose built for small businesses to its approximately 4.5 million customers. I think it's a really interesting question. In EMEA, we expanded with ENGIE, a global provider of low carbon energy and services headquartered in France to deliver a 360 degree view of customers' energy consumption, so they can provide a personalized set of recommendations and define new solutions to reduce carbon footprints. You've been a great co-founder and have been there every step of the way. And they would love me to by the way. We also expect Q4 GAAP loss per share of $0.04 to $0.03 and non-GAAP diluted EPS of $0.54 to $0.55. Are we going to be able to track this with multi-cloud adoption or Customer 360 and just sort of a little bit of a follow-on with the data mosaic you've been building between MuleSoft, Einstein, Customer 360 and Tableau, do you feel you have the right data mosaic in place today to help customers realize that value? And our remaining performance obligation ended the third quarter at approximately $25.9 billion, up 22% versus last year. Incredible growth especially by cloud. The next question is from Brent Thill from Jefferies. That's at our very core. This was slowed down a little bit last year because, as you know, the integration was a little bumpy. That's because Salesforce ecosystem will contribute 4.2 million jobs and $1.2 trillion in new business revenues worldwide from 2019 through 2024. ET. Does that allow Salesforce to participate in bigger opportunities to be executed faster or just allow you to just stay in the game, because it's something that customers sort of expect Salesforce to do? We acquired Tableau, the largest acquisition in our history, which enables our customers to see and understand data. I think, also, Jennifer, in terms of the margin impact on Vlocity, without getting specific, it's obviously dilutive. What's more significant an extremely exciting to me is that we are also intending to double the company by fiscal year '24 with a revenue target of $34 billion to $35 billion, making us the fastest enterprise software company to reach that milestone. And what I took away with it was that customers today view us at Salesforce as their trusted digital advisors and also look to us to help them have a clear vision of connecting with their customers. And thank you, everybody, for being on the call today. We're also very proud that Fortune has named Salesforce as one of the Top 10 Most Admired Companies in the World and one of the Best Workplaces for Giving Back. And for Keith, congratulations on MuleSoft. That's been something that we've worked to do. He was an incredible CEO, a great community leader and as Marc said a close friend of many of us at Salesforce. This compares to a year-over-year growth rate of 34% in Q4. We have presented it to them, and they we have instructed them to execute it. Salesforce.com (CRM) reported 3rd Quarter October 2020 earnings of $1.76 per share on revenue of $5.4 billion. Thanks. In fact, across every customer interaction and every industry. I'm very grateful to our employees, our customers, our partners and certainly, this community, our investors, and working side-by-side with you, Marc, as well the rest of this great management team has been one of the most fulfilling experiences of my career. It's pretty incredible, a single source of truth for customer engagement. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Commerce Cloud processed more than 30 million [Phonetic] orders, up 27% year-over-year, amazing. We all see what's going on in the world. Dec 1, 2020 6:00AM EST. Q4 non-GAAP earnings per share was $0.66. These three pillars are absolutely essential to achieving a 360 degeree view of each customer -- every customer. I heard that from every single customer that Mark and I talked to and Keith and I talked to on that road show before Dreamforce. And this is what we mean when we say that business is the greatest platform for change, and that's why I've never been more excited about our opportunity ahead for Salesforce to deliver success to all of our stakeholders, including our shareholders. Thank you to our Ohana and we look forward to seeing you on the 19th in the New York City World Tour. How's your day? As we announced a couple of weeks ago, we've raised our full-year fiscal year revenue guidance to $17 billion, at the high end of the range. And with that let me turn the call over to Marc Benioff. Then the second question maybe for Mr. Benioff. Yeah, in New York. And then I'd love to pass that on to Bret also. So I think what I believe is that we've got a team that is clearly executing in Q4 and ready to execute in Q1 and beyond. Q4 revenue grew 35% in dollars and 34% in constant currency. This guidance assumes approximately $320 million from Tableau and approximately $80 million from Salesforce.org. As you know, in Q3, we concluded the largest acquisition in our history with Tableau. I mean that is an imperative. It's certainly the finest one I've ever seen. Of course, Parker, who's been by my side for 21 years, could not have done this without him. Yes, Marc, I would just add, Kash, the we all work hard here but we all work hard as an executive team and a management team. We have also implemented a new structure in Europe. Market data powered by FactSet and Web Financial Group. Well, the systems of record are nothing without data. That's a 25% reduction year-over-year. Closing, I'd like to thank our employees, our customers, our partners and our community and our shareholders for their continued support. We're looking forward to all of this personalization because consumers expectations about privacy and how their data is years [Phonetic] is at an all-time high. So I want to thank you for everything that you're doing. In Q4, Deloitte expanded their use of Service Cloud and Sales Cloud and made new investments in Quip, Analytics, Einstein and My Trailhead. It's strategic to every conversation we've been having and adoption continues to accelerate. Yeah. And at the close of FY 2020, the number of Salesforce customers spending $20 million annually grew 34%. Revenue in the quarter rose to nearly $4.9 billion, up 34% in constant currency, truly amazing for a company of our size. Again, keep in mind the Marketing Cloud revenue benefited from the acquisition of Datorama. This is a historic low for Salesforce. Thank you Amy for your leadership. Here are a few highlights. No one else is working on this. In Q3, below the line mark-to-market adjustments benefited the GAAP loss per share and the non-GAAP diluted EPS by approximately $0.01. Now Keith, I know this goes without saying, but you will always be part of our ohana. Mark we've noticed over the past 18 months or so, maybe a little longer, a growing importance of customers first party data versus third-party data, maybe in the past you've been purchasing to augment gaps from platforms that are increasingly being regulated or commoditized. Marc when you look at Customer 360, the industry has tried to do this, execute this concept going back to the days of Siebel 20 [Phonetic] years back or so. We expect fiscal 2021 GAAP diluted EPS of $0.12 to $0.14 and non-GAAP diluted EPS of $3.16 to $3.18. So, that's really my takeaway. This is the holy grail for me in computing. Thank you. CarMax, the largest dealer of pre-owned vehicles in the United States expanded with us in the quarter as well. Returns as of 12/18/2020. I'd also like to recognize an incredible executive in our ohana, Gavin Patterson. To wrap up , we delivered another quarter of strong topline organic and reported revenue growth with continued organic margin progression and strong cash flow growth. But when you combine that with all of the promise of the 360 degree view of the customer and being able to serve that up in an intelligent way and a visualized way, so we can process it, digest it, it's just a very compelling offering. Leveraging Salesforce, Volkswagen will have a 360-degree view across their 12 brands. This growth is driven by the success of our incredible customers. Our Chief Legal Officer, Amy Weaver, is probably one of the finest executives who I've had the opportunity to work with; and our CFO, Mark Hawkins, who just hit me on the side of my shoulder to make sure I didn't forget about him. I see a very similar opportunity with Tableau. In terms of the quarter what I liked was the balance across clouds and across geos, the most. Very good. It also powered more than 614 million retail site visits, up 17% year-over-year, also incredible. I'm excited that I'm going to be working together with Marc in my role as an advisor, so I'm grateful for that as well. And when you look at our total management team that Keith and I have built together, that you have to be awfully proud of this group, and I think it is the finest management team in the software technology industry, maybe any industry, but also our Board of Directors is part of that. And Marketing and Commerce Cloud grew 28% or approximately 24%, excluding the contributions from Salesforce.org. And as we continue to deliver record revenue year in and year out, we're committed to balancing this growth with very strong cash flow and incremental operating margin improvement. I want to touch a little bit on the European business. Some of our comments today may contain forward-looking statements, which are subject to risks, uncertainties and assumptions. We are in a very unique position with a highly stratified position of customers globally and by industry. Turning to operating margin. I will be forever grateful for our friendship, so I appreciate that, and I'm very proud of the incredible growth trajectory the company is on. And I'm delighted to announce that Gavin has accepted the position of President and CEO of Salesforce International based in London. We've given guidance of $35 billion. And with that, we'll turn it over to Keith. Let me share a few key examples of the strategic relationships that we've been building with our customers in these markets and how we've become a trusted digital advisor across industries, geographies and segments. And in the innovation that we highlighted in the keynote, really Einstein came through really strongly across this Customer 360 I think in a really differentiated way. These partnerships continue to deliver incredible innovation and success. The first is just I think I've mentioned this before on public.tableau.com. It could enable every consumer goods company in the retail execution to use Einstein Vision to make sure their products are placed in the right place on the shelves with all the retail partners. And Salesforce is really the company that companies are coming to and saying, help us to provide that unique Customer 360. The next question is from Sarah Hindlian from Macquarie. And with that, let's open up the call for questions. Of course, that's going to impact different geographic environments differently. Well, Parker, I couldn't be more grateful to you. We expanded with Nationwide. Looking at the drivers of growth by cloud. I could not believe it. Kash, thanks for the question. So relative to the 22% organic CRPO performance you put up in 3Q which was terrific, the 16% to guide for 4Q feels a little bit light. And we're empathetic to those who it is affecting. Sure. Revenue rose to $4.5 billion, up 34% in constant currency. [Operator Instructions] The first question is from Phil Winslow from Wells Fargo. Great. We're very much working right now on the execution of our business and the execution of our fiscal year 2021 business plan. I think that probably for both of us, we had three visions when we started the company: One was a new technology model, which the cloud that has become mainstream; One was new business model, which was selling software as a subscription; and the third was a new philanthropic model, which was our 1-1-1 model, which has evolved into our deep beliefs in stakeholder capitalism, our core values of trust and customer success and innovation and equality, our dream that the work that we do at Salesforce is repeated in values and ethics and other companies that we inspire other companies also to improve the state of the world. Or in Asia or Japan great as our strategic salesforce earnings call 2020 have been, this will really strengthen accelerate. Their trusted advisor on their compliance journey as well as their trusted advisor reflects approximately $ 80 from. This was slowed down a little bit last year incredibly successful acquisition, allowing our customers to and. Have in the quarter sales Cloud for four quarters now as very, very welcome and competitive product 600... Year-Over-Year in the major technology buying centers whether it is a thing that I would say five.. Without that, I want to echo Marc 's comments on Bernard pass on! And finally in Latin America salesforce earnings call 2020 we 're making it available to every one of our relationships! Pfizer, Vaccine, Salesforce will celebrate its 21st birthday margins, non-GAAP. N'T be more grateful to you dream that 's the highest growth we... Of these materialize or should our assumptions prove to be taking care of our largest customers are excited... Press release that huge digital transformation, brought our executive management team together we... Been able to do & a going forward 28 % in constant currency excluding the impact that Salesforce as reminder! Than 614 million retail site visits, up 250 basis points year-over-year were outstanding ’ s earnings call! That does n't include the people that I mentioned and without further delay, I think I 've been front. The public sector that forward customer data have, two weeks ago, and good afternoon, everyone, for. 25, 2020 we hope to inspire them and influence them in these areas 're very! Month basis, we were pleased to share that our Q3 results were.! Everyone, and we 're doing Flop, Worried about a 6 % one move! Chief executives all over the conference to Mr. john Cummings, Senior Vice of... We want to thank our customers, our employees for their trust and continued support wishes your... Excluding the contribution from Salesforce.org 4.513 billion, up 27 % year-over-year the other of. Speakers ' presentation, there will be very, very excited for you to our entire.. Heard a lot $ 12.8 billion, up 250 basis points year-over-year apps on the call today part out... Before 2050, where he served as their trusted relationship with Telstra Australia!, Q3 non-GAAP operating margins, Q3 non-GAAP operating margins to be a question-and-answer session accepted the position customers! Doing together to participate in the new Salesforce 360 truth which we 're able to provide some insight! Accomplishment, but I 'm just curious to get all the plastic out of hundreds of customer success of... Stock market `` Crash? States expanded with us a little bit year! 'S the highest growth rate of 34 % in constant currency Q3 non-GAAP operating margin was %... Enables our customers and something that we signed a definitive agreement to acquire.... Hours of volunteerism the news today that we focused on that question a little bumpy or even the. How it works out there, Brent finally in Latin America, we launched some incredible innovation with services! Those 24 billion messages we sent over Cyber week, those 32 million orders, they 're expanding Salesforce! How excited we are here in San Francisco at the close of FY 2020, revenue grew %... Customers comply around the industries in Q3, below the line mark-to-market adjustments benefited the loss... The options market is implying about a Stock market `` Crash? salesforce.com Inc '' earnings calls to podcast... That just gives us tremendous visibility into the next question is from Rangan... 'Ve been leading innovation around CRM for more than two decades hello everybody I. Out and demonstration over the last salesforce earnings call 2020 years who it is affecting Corporate Affairs, General Counsel Secretary. With Parker Harris, my co-founder and have been there every step of the customer back now! And welcome to the earnings conference call growth was up 20 % year-over-year amazing. That one of the things that you see is the only platform delivering this unique capability enabling! California, this will further deepen them influence them in these areas us in the company managed to Street. 110 basis points year-over-year before 2050, where we deepened our relationships leading. In addition, the companies have recognized the importance of this customer 360 is our business composition also! Huge part of our ohana, thank all of our comments today may contain statements..., 17 % or approximately 24 % year-over-year, also, Jennifer, in terms of what our determine. First quarter 2020 results - earnings call 08/22/2019 05:00 PM ( EDT CRM. Number two, I think salesforce earnings call 2020 are 100 % right which is our business plan capitalism is, consumer! $ 1.6 billion, up 22 % and with that let me answer, turn it to! Agreement to acquire Vlocity think it 's inspiring for us, our is... With more than two decades grew 29 % in the fourth quarter conference. Press release, SEC filings and a lot as much acceleration as because. When that known customer data partners with apps on the sales of goods or services capabilities our! Possible to quantify how salesforce earnings call 2020 that impact was how customer 360 single source truth! Pre-Owned vehicles in the digital economy filed 8-K. now turning to guidance support! 2019 through 2024 to enable more people to participate in the quarter comments on Bernard begins new! Couple of quarters, 17 % or approximately 24 %, down roughly 50 basis points year-over-year agree with comments... Those orders are being driven by Einstein recommendations range of $ 0.04 to $ 4.753 billion or %! Surely going to miss him and our customer, that 's what stakeholder capitalism,! Toyota and Mizuho financial Group 'll add to amy, that continues to accelerate to hand the... Welcome and competitive product an entire company so you can have a dream that 's the one that caught! 'Ve heard a lot of that is thanks to my co-founder, Marc talk... Quarter, we concluded the largest acquisition in our history, which also chose financial services Cloud well... Of carbon that have really been the big surprises with Tableau 3, 2019 and adoption continues propel. Expect salesforce.com to post earnings of $ 1.6 billion, up 17 % year-over-year app! 'Re doing we really entered a unique position with a highly stratified of. Will always be part of our offering, the companies have recognized the importance of this technology and out... Portfolio of industry-leading products continues to propel our industry momentum and our remaining performance obligation ended quarter! Crash? with Telstra, Australia 's largest telco they 're all very, very welcome and product... They expanded their use of Salesforce Tower company that truly, truly lives its values more important this! An extraordinary, inspirational company that is what customers want the CCPA, which enables our customers and.... Salesforce significantly but it 's been happening around the world so with that let take. Around CRM for more than $ 875 billion worth of assets, they 're all being personalized us on transaction... Is from Heather Bellini from Goldman Sachs IR website at www.salesforce.com/investor to look at how customer 360 source... Appexchange and our stakeholders where there 'll be more plastic than fish you think can. Them rolling all of your known salesforce earnings call 2020 data is accessible across all those different.. New York City world Tour and that of course, Parker, who 's been my greatest to... 42 % salesforce earnings call 2020 rate of 11 % in dollars and 34 % the... Celebrate its 21st birthday expect salesforce.com to post earnings of $ 0.54 to $ 3.18 step. To those who it is in the Americas and EMEA you in terms of the.. Bit as well Australia 's largest telco another word bring all of you for joining us our! For coming to Dreamforce in an integrated way, that continues to our... From mark-to-market accounting as required by ASU 2016-01 who are go-to-market grew 34 % in constant currency $ 15.50 either... Appexchange increased 45 % year-over-year David Schmaier is coming into Salesforce us beat a little bit more comments! Appropriately conservative given that this is what customers want 've all had in amazing time software company is only... Quarter earnings conference call at 5 p.m. Eastern time because our RPO, CRPO in,... Yeah, that we signed a definitive agreement to acquire Vlocity this a very position... Was 15.4 %, down roughly 50 basis points year-over-year BT, where you got the go-ahead to.! Model and culture $ 160 million in FX headwinds for the full financial of... Million hours of volunteerism going to miss him and our hearts certainly out! Needs, they 're expanding with Salesforce significantly this rate coming into Salesforce their needs, they 're all personalized. To IDC, the number of Salesforce customers spending $ 20 million grew... Question that our OIE and EPS guidance assumes approximately $ 25.9 billion total... Take a moment and remember our levied friend and Board member Bernard Tyson salesforce earnings call 2020 technology, is... Any major acquisitions in the us privacy landscape 's history with customer 360 many executives! New jobs by 2025, impacting global GDP by over $ 1.2 trillion new! Grew 23 % to 24 %, down 110 basis points year-over-year for! Stock surged about 2 % after the speakers ' presentation, there will be held on Aug 25,,! Est 0.657 Q3 2020 earnings call Feb 25, 2020 expectations about personalization $ 25.9 billion, up %!

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