salesforce earnings call transcript

It’s all one family. Total revenue for the third quarter was 5.42 billion, up 20% year over year and up 19% in constant currency. It really is about facilitating this all digital work from anywhere world to enable team selling, to enable people in a contact center to swarm on a case and digitally whether or not you’re in the same building, to enable marketers to clinic campaign, to enable merchandisers to plan what goes on the front page of commerce out for a commerce website. Salesforce CRM Q3 2021 Earnings Call Transcript, Congressional Testimony & Hearing Transcripts. Sir, you may begin. Good afternoon. What this is all about is the value of the social enterprise and creating this incredible idea that you have this amazing hub of productivity, of collaboration, and integration in applications that now leverage all this amazing data. And I wish that we could work more closely with more government, more deeply to do exactly the same thing. And I’ll begin with top line commentary. Amy Weaver: (32:30) Should any of these materialize or should our assumptions prove to be incorrect, actual company results could differ materially from these forward-looking statements. Read or listen to the conference call. And I’m just so grateful for everything that you have done for the company. We expect our revenue to continue expanding, growing from 21.1 this year to now over 25.5 billion. Mark: (43:05) Hello everyone, and thanks for joining us for our fiscal ’21 third quarter results conference call. An example of this is what we’ve already seen this past week with the incredible scale, the reliability, the strength of our Customer 360 platform this weekend. Coming off the strong Q3 result, we are pleased to be raising our full year fiscal ’21 revenue guidance to 21.1 billion, to 21.11 billion, representing approximately 23% year over year growth. I’m amazingly humbled, grateful and proud of having the opportunity to be 40 years in technology. Our next question comes from Derrick Wood with Cowen and Company. Bret Taylor: (51:03) David Hynes: (34:09) As Marc said, it’s been something we’ve been working at and thinking about for a long time, well before I even joined this company about how do you connect all of these experiences? We’re thankful to all of our customers and our partners for the success. And that’s a perfect match for both of us that’s going to extend our companies, make us both stronger. So even though in the middle of the quarter, we went into global lockdown in March and April, we think we’re going to come out pretty strong, and we were very fortunate starting in the second quarter with number one, onboarding a fantastic new CRO, Gavin Patterson, former chief executive officer of BT, who was working with us, who I’ve known for so many years, and coming in as our CRO and our president, taking his position, which he was doing so much with us already, but then really leading our global distribution operation, and then we rebuilt our entire distribution management team as part of that, and we delivered the second quarter, which was our record quarter. And we’re all modeling, I’m sure right now, what the fiscal year ’23 number is. Thanks so much. This is an opportunity that we saw and we’ve talked a lot about, this shift in the economy, the relevance …. And Mark, I think our guidance is now higher than our original guidance for the year. Of course you would expect nothing less of Salesforce. Read the full transcript here. Motley Fool Transcribing The Motley Fool Published. Marketing, as Marc mentioned, this last weekend is the perfect indication of this. Well, I think that we can say now with delivering this guidance at 21-1, and looking at next year as well, Gavin, I just want to thank you, because I don’t think there is a more successful sales executive in enterprise software, certainly at the size and scale that we’re operating in, than you are, and your leverage, your experience as a chief executive officer of a very large hundred thousand person company, BT, you’ve done a phenomenal job, so thank you. They’re very, very impressive, and when we’ve gone up against tough competitors, we have done just fine, and I think that we bring a lot of value to Slack right now, at their size. Bret Taylor: (41:26) How are you seeing the priorities changed through this pandemic? Prepared Remarks: Operator. It’s reminded me of another great company, Salesforce. Please be advised that today’s conference is being recorded. Published Nov 18, 2015. Of course, you’re already doing wall to wall in the enterprise, which is very exciting for Salesforce. Obviously it’s enormous, but our ability to call at every level, our ability to call into the CEO level easily level, our ability to have much higher levels of productivity with our sales organization. Mark: (52:22) Recent Earnings Calls. You might remember that I also said pipelines appear to be really strong. Salesforce CRM Q3 2021 Earnings Call Transcript • 2 weeks ago Zoom ZM Q3 2021 Earnings Call Transcript • 2 weeks ago Nio Inc. NIO Q3 2020 Earnings Call Event Transcript • 4 weeks ago It’s basically, we’re following all these protocols and we’re trying to stay as safe as we can. For Q4, gap diluted EPS is expected to be 5 cents to 6 cents, while non-gap diluted EPS will be 73 cents to 74 cents. So I know this is going to be a seamless transition, but my heart is really filled with gratitude. But we just think this is consistent with all of that and look forward to executing on that. Consumer goods have gone from retailers to direct to consumer. I’m curious, look, Slack;s going to give you access to huge amounts of rich, conversational customer data. Commerce cloud, marketing cloud, well, you know that those were started as acquisitions and now we’ve turned it into a multi-billion dollar business. Not very many companies do five quarters in advance, so we feel good about the demand environment. And now for some personal comments. Incredible. Good day, ladies and gentlemen, and thank you for standing by. Bret Taylor: (45:24) Speaker 1: (34:01) You’ve probably touched that online. But here we are in this present moment and wow, there’s so many things happening and so many exciting things to talk to you about on this call today. To withdraw your question, press the pound or hash key. And now with this combination of Slack and Salesforce exactly as I mentioned, my whole world is on this platform, and we call it Customer 360, but the idea that … See, number one, there’s never been a more important time for sales and B2B sales. Evan Goldstein : (00:35) I couldn’t be happier for you. And we see in Slack a once in a generation company and platform. Now we’ve already done almost 5,000 of those Dreamforces, which has been our prototype. But when you look at what happens when you put Slack and Salesforce together, the fundamental experience for the customer, it just changes. CRM helps companies understand their customers’ needs and solve problems by better managing customer information and interactions – all on a single platform that’s always accessible from any desktop or device. Why not before, and why not next year? Thank you guys for taking the question. Questions and Answers. And then at that point, I am absolutely delighted to announce our new chief financial officer, who has been on a few of our calls here. Mark: (35:48) You’re not going to want to miss that presentation. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Welcome to Salesforce Fiscal 2021 First Quarter Results Conference Call. It’s beyond just sales or service or marketing. Not just among Salesforce customers. Now when we look at the fourth quarter, rich pipelines, we have tremendous outlooks, and we feel very good about our ability to succeed. You can see because as a public company, its profile is different than Salesforce. It just us. Dec 2, 2020 7:00AM EST ... All earnings call transcripts. I really deeply believe we are in a great position of strength and we are getting stronger as a company with so many indicators to evidence that. More than 150,000 companies use Salesforce CRM to grow their businesses by strengthening customer relationships. Mark: (56:25) Wow. Look, you’ve been running this business so well now for several quarters, but just give us one more level of insight. Sure. 1 of 2. First of all, we don’t really … Billings is not a metric that we focus a lot on. In the enterprise, among Salesforce customers, not just by lighting up our tens of thousands of salespeople, that’s not what this is all about. And you probably saw, if you watched the Tableau conference-ish, this year, the vision they’ve had for Tableau integrated with Slack, you look at what Salesforce has done, it’s absolutely incredible. We’ve been there, we’ve lived that life, and we’re going to come in and we’re going to help them not just be successful during it, we’re going to help them to just redefine the entire industry, and that dream and that vision that Brett and Stewart have is really unlike anything I have ever seen at any company or any product anywhere, and when you see it all laid out, you will just be blown away. (Operator Instructions) As a reminder, this conference call is being recorded for replay purposes. Mark: (06:43) Mark: (57:19) Like, how do you garner the confidence at this $28 billion price tag is the right price tag and financially this is going to make sense for our Salesforce over time? As a reminder, to ask a question, you need to press star, one on your telephone. So we already know more than 90% of Slack’s enterprise customers are also Salesforce customers, but we also see how much farther they can go because we just use ourselves as an example. It’s never had a more competitive position. Mark: (18:32) Wow. And then, Mark Hawkins, thanks for the EPS guidance, but I know there’s a lot below the operating income line factors, so can you give us any goalpost around how to think about how Slack impacts operating margins and how to think about margins next year? Mark: (04:30) We’re going to have some very, very special guests tomorrow, some great customers and some really outstanding music. Mark Hawkins: (28:54) Thanks. We all know it takes a great CFO to help scale a company, that well, I’m very grateful for this. It’s into every department. And with MuleSoft and Tableau, every company can easily unlock any data from any source and see and understand in ways that are leading these faster, smarter decisions. At this time, all participants are in a listen-only mode. I will be the company’s strongest advocate once we go through this nearly a year of a transition, which I’m excited to be a part of, and I get to work hand in hand with a dear friend, Amy Weaver, who I have the utmost respect for as an executive, as a partner, and who’s going to be an amazing CFO. What has been your biggest surprise working inside Salesforce and now working with our customers and doing these huge transactions that you’ve been doing? I think there’s a long way still to go, and another few chapters for the next book in it. After the speaker’s presentation, there will be a question and answer session. Speaker 1: (53:54) Bret Taylor: (40:53) (CRM) Q2 2021 Earnings Call Transcript August 25, 2020 In "Earnings Call Transcripts". We are going to be factoring in Slack’s business profile into our overall business for next year for the operating margin. Ladies and gentlemen, we have reached the end of the allotted time for questions. Let’s get right into it. We have to make sure that we respond to unique conditions from our customers in the market. While this acceleration of our personal visual transformation and the post pandemic world is happening, we do expect this to resolve and a one-time Q4 charged for approximately 80 million to a hundred million. Thanks for taking the question, and in mine, maybe just for Mark and for Gavin, I want to ask about the demand environment, particularly how it looks from a pipeline perspective for the fourth quarter, and Mark and Gavin. Therefore, our fiscal 21 gap EPS will be $4.14 to $4.15, while non-gap diluted EPS will be $4.62 to $4.63. It’s the ultimate way where you can transform your teams working on B2C customer engagement. Bret Taylor: (49:51) After analyzing our global lease commitments, we now plan to consolidate and sub-lease select locations. We really think this is a way of delivering that vision to our customers, and for our customers to deliver a vision to their partners and their customers through technologies like Slack Connect is really, really meaningful and really, really unique. (NYSE:CRM) Q3 2021 Earnings Call Dec 01, 2020, 5:00 p.m. We’re going to have Dreamforce for each and every customer.” And we’ve already reached out to thousands and thousands of our customers, we’re creating custom Dreamforces exactly for them. Now it is my pleasure to hand the conference over to Mr. John Cummings, Senior Vice President, Investor Relations. The best part of Dreamforce is being together in person. We are proud to be raising our revenue guide back to our pre-pandemic expectations. Because the combination of mask wearing and social distancing and religious contact tracing, well, boom, you can eradicate the virus. Good day, ladies and gentlemen. Bret Taylor: (44:48) And you look at this quarter, great customers, great customers like Prudential, Accenture, NBC Universal, Telefonica, Zoom, Data California. Heather Bellini: (42:18) It’s the central nervous system of so many companies on this call and our company, and so many of our great customers, connecting everyone and everything. You’ve probably seen some of our incredible Tableau dashboards we put together. We’re not doing it like everybody else. Congratulations on the retirement. And this is up 19% year over year in constant currency. Salesforce (symbol CRM) reported Q3 2021 fiscal year earnings on December 1, 2020. Let’s face it, look at these numbers that we just delivered. Regarding our fiscal ’22 revenue guidance, we projected to be 25.45 billion to 25.55 billion, representing 21% growth. And for our customers who have now seen this next generation architecture, and you’re going to see our next generation platform tomorrow, but I don’t want to give away too much of what Brett Taylor has built, but it’s incredible. We’ve already seen a lot of that with Tableau and the ability for Tableau to go wall to wall, and Tableau is another product that users just love., inc. (CRM) Q1 2021 Earnings Call Corrected Transcript 28-May-2020 1-877-FACTSET 3 Copyright © 2001-2020 FactSet CallStreet, LLC MANAGEMENT DISCUSSION SECTION Operator: Welcome to the Salesforce fiscal 2021 first quarter results conference call. Send any questions and requests our way. Some of our comments today may contain forward looking statements that are subject to risks, uncertainties, and assumptions. So with that, really recognizing the Slack … Fundamentally, if you look at the happiest customers who use Slack, it is really the central nervous system for their company and that’s really connecting every single application at their company, not just applications from Salesforce. Darden Restaurants Inc (DRI) Q2 2021 Earnings Call Transcript, CrowdStrike, Magnite Soar Despite Nasdaq Drop, Why Greenwich LifeSciences Stock Is Plunging Today, Why Alternative Energy Stocks Are All Over the Map Today. Thank you. But I’ll stop at that. We’re empowering every account executive in our company to do this. Evan Goldstein : (01:04:43) And Salesforce then takes all of that in sales, in service, in marketing, in platform, in analytics, in conversations, in channels and collaboration. What 's up with the single source of truth for their customer.. In really good shape give you access to huge amounts of rich, conversational customer data be excited... 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Dec, 19, 2020