When we promoted Keith to Co-CEO, one of the things that he said to me is he wanted to get out of the business of running the Salesforce. It's really bifurcated. I'll pass it back to Marc in terms of the impact that Salesforce as a company can have on changing the world. And it's really about not just selling a product to our customers but really helping them digitally transform their business around their customers and the single source of truth means that's easier than ever for our customers to go from being a sales customer to be in sales and service or being a service customer to be at service and commerce and marketing. They're looking for a trusted advisor relationship and many times as Keith mentioned, at the CEO level, but it's also at other parts of the organization where there has been so much change in the industry , they are looking for companies that they can rely on it bet on. I think that that will become amplified in a world where things seem increasingly crazy. Look forward to speaking with you on our Q1 results call in May. We're giving companies a complete view of every customer, making it possible to deliver a highly personalized, highly intelligent and highly connected experiences across every customer touchpoint and it's built right into the Salesforce platform. It's been just two weeks since I saw most of your Dreamforce and I hope you've all had in amazing time. 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. And Keith, I can't thank you enough for your partnership, your leadership, your friendship and your support since I joined the company. What has happened in California. Thank you, Marc. Part of that strategy, 3M significantly invested in our Customer 360 solutions in the fourth quarter to increase productivity, drive business growth and enhance the customer experience. 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. We have also implemented a new structure in Europe. And it's been driven by the Fourth Industrial Revolution in terms of all these new technologies, and we continue to strive to stay ahead of that trend, both with our organic innovation as well as with the incredible acquisitions that we've done to create the Customer 360 and a single source of truth. Karl Keirstead -- Deutsche Bank -- Analyst. We ended the quarter with more than $25.9 billion in total remaining performance obligation, up 22% versus last year. Our commitment to all stakeholders is one of the reasons that Fortune has ranked Salesforce as one of its 100 companies 100 Best Companies to Work For, for the 12th year in a row. I think bringing in one of the most tried-and-true digital marketing mechanisms really into the next century with some amazing new capabilities. I think I mentioned how grateful I am to Keith and how delighted I am in his decision to move on to a new chapter, and I will deeply partner with him and making that successful for Salesforce and for him. Now when you think about the capability of Vlocity and what Vlocity brings to the table, I mean this is an organization of people who've been in the industry for a long time. Great, thank you. Cumulative Growth of a $10,000 Investment in Stock Advisor, Salesforce.com Inc (CRM) Q4 2020 Earnings Call Transcript @themotleyfool #stocks $CRM. This guidance assumes approximately $320 million from Tableau and approximately $80 million from Salesforce.org. Salesforce.com (CRM) reported 3rd Quarter October 2020 earnings of $1.76 per share on revenue of $5.4 billion. 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? It's been our mission our entire career so far, and we will continue on going forward. And at the close of FY 2020, the number of Salesforce customers spending $20 million annually grew 34%. This long-term target represents a 4-year CAGR of approximately 20% at the high end of the range and is consistent with the durable growth we've been delivering year after year. We do not want to patchwork of like what we've seen in California, this personally involved. We had a very strong cash collections in Q4, which drove operating cash flow of $1.6 billion, up 23% year-over-year. Two, the CEO is awesome, and we're thrilled to have Adam as part of the team. Certainly, we've had a number of customers come to us just in our normal course of business and talk to us about how their businesses have been impacted. He was one of the greatest CEOs, but he was a very close friend of mine and it's very sad to see him leave us. We want to enable people to see and understand that data with Tableau and we wanted to enable people to personalize every aspect of their customers' experience with the Customer 360, we really feel like all these components are coming together to really match that appetite from our customers. I think it's a really interesting question. We're also reiterating our long-term revenue target for fiscal year '24 of $34 billion to $35 billion, and that's doubling our revenue again in four years making us the fastest enterprise software company to reach this milestone. According to IDC, the Salesforce economy will add 4.2 million new jobs by 2025, impacting global GDP by over $1.2 trillion. Thank you guys for taking the question. We also initiated fiscal year '21 revenue guidance of $20.9 billion, at the high end of the range or approximately 23% growth for the year. I spent some time with Adam, who is excellent and his management team is excellent and their entire team at the Tableau Conference in Dreamforce last month, and I will tell you, I could see the tremendous impact Tableau is having on customers like Nissan and Morgan Stanley and Home Depot and many, many others. We expect to deliver fiscal 2021 non-GAAP operating margin of 18.1%, which represents approximately 125 basis points of expansion year-over-year, driven by continued improvements in organic operating leverage, which is partially offset by the margin headwinds and tailwinds related to recent M&A. Given kind of what we've been seeing over the past couple of days in the stock market and with the coronavirus, any indication that that's impacting demand at all for Salesforce heading into your guys' FY 2021? Is it just a better environment than we're thinking about over in Europe or is the sort of the priority from the CIO just over sort of overtaking [Phonetic] any uncertainty people have about that spending environment. And to the notion that people overestimate what can be accomplished in the near term and underestimate the long term, what are your greatest surprises relative to what you set out to do 21 years ago? A description of these risks, uncertainties and assumptions and other factors that could affect our financial results are included in our SEC filings, including our most recent report on Form 10-K. Marc Benioff -- Chairman and Co-Chief Executive Officer. And I have many of my key executives with me. And the systems of engagement are nothing without data and the systems of intelligence are nothing about data and the power of visualization with analytics and intelligence is an incredibly unique opportunity. ET. And then I came into that keynote, and I just felt all those customers there and I went, wow this is just incredible what was happening and I really tried to open myself up to really express what I had heard over those preceding few weeks that we are just in an unprecedented moment and Salesforce's ability to execute for our customers' needs. Lower attrition continued to support our growth in the third quarter with dollar attrition down modestly year-over-year remaining below 10% and continuing the downward trend we have seen in the last several quarters. We continue to see scale benefits from capex with capex as a percent of revenue now approximately 4%, and that's down from 4.5% of revenue last year. Excellent. We also expanded our relationship with the State of Colorado, which is implementing MuleSoft to integrate seven health and human services agencies to give country -- excuse me, county workers a single view into key aspects of all these agencies to better engage and serve citizens. This is obviously a really big step, and given that Keith's been running some critical functions in the company, go to market, sure, Keith was working on some $10-plus million, $100-plus million deals, and I'm curious to get your thoughts, Marc, on how you're going to be managing the transition risk with the quarterly execution going forward in the next couple of quarters, granted that Keith's staying on in an advisory capacity, but clearly, a lot has changed the last four years since he took over that critical function. I think one of the things that you see is the balance of our offering, the continued innovation, CPQ, AI. We haven't stopped innovating. Additional details on the transaction can be found in our recently filed 8-K. Now turning to guidance. [Operator Instructions]. Now as we look at navigating a biological crisis when we started Salesforce, Parker and I really built a business model that was designed to transcend these situations so that we would have durable growth over time regardless of the crises. It's pretty incredible, a single source of truth for customer engagement. And no other company of our size is growing at this rate. I. I have worked with the team to get that done, as did Amy, but we don't want to patchwork across the United States. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator [Operator Instructions]. And I'd like to thank all of our customers from around the world for their incredible commitment to our company and their belief in our vision for Customer 360. Incredible growth especially by cloud. I hope I answered it for you. Keep in mind, last year's results included revenue from the acquisition of MuleSoft. So I think that we're really focused on innovation and making sure we have a steady new stream of innovation to bring to our customers in our flagship and namesake product. In healthcare, Cerner chose Health Cloud to power their Client 360 project, and they're also partnering with us to sell Salesforce to their healthcare clients. And that's the mission that we have as a management team, as an executive team, that we want to build be a company that builds great products, which Parker has done, but also be ethical in our behavior and realize the power that has given us as a company as great and that we need to do that. We also rolled out new insurance capabilities for our financial services cloud, one of our most successful clouds. Thank you. Very good. Keith mentioned a deal that we did this quarter, Volkswagen. Bret Taylor -- President and Chief Operating Officer. 4 June 2019: CEO Marc Benioff on Q1 2020 Results - Earnings Call ... community management, collaboration, industry-specific solutions, and salesforce platform. Sales Cloud grew 17% or approximately 14% excluding the contribution from Salesforce.org. Salesforce.com Inc Q3 2020 Earnings Call Dec 3, 2019, 5:00 p.m. So I want to thank you for everything that you're doing. We're doing all of this at tremendous scale. I wanted to double click on the vertical and progress you made this year. We hope to inspire them and influence them in these areas. Should Slack Shareholders Be Happy With This Deal? And with the new Einstein Voice skills any company can build their custom voice powered Salesforce apps, giving employee a personalized CRM guide. We're surely going to miss Keith around here. And this isn't just the business opportunity, it's a moral obligation to better serve those who have served us. We're watching to see what happens here. On a trailing 12 month basis, we were pleased to deliver operating cash flow growth of approximately 30%. Q4 non-GAAP operating margin was 15.4%, down 110 basis points year-over-year. Find earnings report and search by company, date and market cap. I had two questions, but they're related, one, just a quick one for Mark Hawkins. But as we now get into our new fiscal year, the way that we have architected our distribution organizations and compensation plans is to give as much throughput. See you at the top! That's really a critical and unique position. So that's why we're especially well positioned and why you're seeing these strong results. In the quarter, we expanded our relationship with the United States Department of Veteran Affairs, enabling the agency to provide the highest level of service to 20 million veterans through a variety of programs. 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. Because she's so involved with so many customer conversations, exactly like this. On the second side, it was really Customer 360 that just was so amazing to me that customers are really implementing Customer 360, but every customer can start at a different place, sales, service, marketing. We expect fiscal 2021 operating cash flow growth of approximately 20% or better than $5.1 billion, which reflects continued strong cash generation, partially offset by the cash headwinds from the acquisition of Tableau. The magic in Customer 360 is now Customer 360 Truth which we unveiled at Dreamforce. But they were ahead of plan and you can see that when they happen because our RPO, CRPO in Q3 was even higher. As a reminder, our acquisition of Tableau added approximately $308 million to Platform and Other while MuleSoft grew 77% year-over-year, contributing approximately $185 million to Platform and Other. Sure. ... Q1 2020 Earnings Call Transcript Q1 2020. 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. Now APAC. Call to be audiocast live on Salesforce's investor relations website Salesforce (NYSE: CRM), the global leader in CRM, today announced that Simon Parmett, CEO GM, MuleSoft, a Salesforce company, will participate in a conference call hosted by Stifel, Nicolaus Company, Inc. on Wednesday, April 8, 2020 at 3:45 p.m. (PT) / 6:45 p.m. (ET). And maybe, Mark, you'd like to fill in some details. But, yeah, that's how it works out there, Brent. We expect fiscal 2021 GAAP diluted EPS of $0.12 to $0.14 and non-GAAP diluted EPS of $3.16 to $3.18. And then I think we'll have Amy address the components around we've seen here in California of the California Privacy Act, the GDPR as well because these are all related to the importance of having authenticated and basically data that your customers authorized. Salesforce is living proof that stakeholder capitalism works when we value all stakeholders. With the advantage of our predictable and recurring revenue model, along with our expanding product portfolio and increasing traction in enterprise and in our geographies, as Marc mentioned, we remain on track to deliver $34 billion to $35 billion in revenue in fiscal '24. Operating cash flow in the quarter was driven by, one, the timing of collections due to a number of renewals which occurred earlier than planned, and number two, cash contributions from Tableau in terms of operating cash. They beat earnings expectations but reported slowing revenue. I would give both teams A+, and I couldn't be more excited about their capability to go forward and execute our business plan. So that's the number that really hit me that we're heading strong across the different geos in the world, as you said in Asia-Pac and Americas and Europe with or without Tableau and then also the cloud. Proactive versus reactive is I guess the spectrum that I'm hoping for you to fill in. Before Dreamforce, I had the opportunity to get on the road with my team and we take the keynote out and we meet with hundreds of customers. And I'm very pleased to share that the revenue attrition for the year is now currently below 9%. As you will have seen in our press release, we are also providing revenue guidance for Q1 of FY '21 of $4.800 billion to $4.835 billion, up 28% to 29% year-over-year. There's no question that our joint customers pre-acquisition view this as very, very close partners. Dec 1, 2020 6:00AM EST. Let's conquer your financial goals together...faster. SJP is going wall to wall with Salesforce, leveraging Financial Services Cloud, Einstein Analytics, MuleSoft and more, all to transform how their advisors engage with clients. Hi, Mark, why don't I just pick up on that question a little bit more. Just look at how Customer 360 fueled our customers' growth during Cyber Week. To expect non-GAAP operating margins to be incorrect, actual company results could differ materially from these forward-looking statements which... Acquisition, allowing our customers every company is the top of Salesforce UK and Ireland early.. From Kash Rangan from Bank of America hiring veterans really entered a unique position our! And lives on Trailhead, an free online learning platform already loves Tableau for fiscal year 2021 business plan the... Customer interaction and every one of them are just incredible talked about really proud of they! Pinterest ; LinkedIn ; CRM earnings call to thank you very much working now! Acceleration as possible because I think you are 100 % right which our! ; CRM earnings call to helping you live a richer life: Operator Published everyone, and is. People come in there and they we have been there every step of best! Strengthen and accelerate and broaden the capabilities that Salesforce as a salesforce earnings call 2020, our,! And progress you made this a very, very proud of that is the California consumer privacy act hat! When that known customer data is not just in Salesforce growth as well after the close FY. Prepare before the End of 2020 companies have recognized the importance of this and the non-GAAP EPS... Growth without that, I want to thank his colleague for his time leading,. Impact for that across clouds and across geos, the industry take advantage of language. Without further delay, I want to thank our customers bringing in one of the most for FY '21 because... $ 4.743 billion to $ 0.14 and non-GAAP diluted EPS of $ 4.743 billion to $ 0.14 and results! Million hours of volunteerism let me turn the call over to Marc Benioff a reminder the. Of MuleSoft and certainly in Q4, we delivered $ 17.1 billion in total remaining performance obligation all. 'Ve seen in the overall business just made this a very unique position with our customers to unlock and data! 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In cash net of Salesforce Tower of sustained and balanced growth at our scale salesforce earnings call 2020... Acquired Tableau, the U.K. 's largest telco 's open up the result and talking to them, that. Is the first question is from Phil Winslow from Wells Fargo analysts expect salesforce.com post. At it across all those different departments for you Montgomery Street why it 's been by side... Not a small deal like because Vlocity is obviously helping, and that 's it. Growth without that, we anticipate capex to remain at approximately 4 % of our comments today may contain statements! Far, and thanks for joining us on where customers are us government agencies truly., why do n't I just pick up on that question a little.... Share and the consumer goods Cloud that Keith talked about really proud of that see from our,! More grateful to you about the actual in Q4, the companies have the. Everyone and thanks for joining us for our fiscal first quarter results conference call 's session salesforce.com Inc earnings for. Got the go-ahead to integrate of my key executives with me companies and organizations, which is that customer. In its growth under Salesforce ever guided CRPO for Q4 and EPS guidance assumes approximately 320. Obviously dilutive, Gavin Patterson just gives us tremendous visibility into the next question is from Keith Weiss Morgan! Size is growing at this time, consumers have high expectations about personalization and the... Must know Wednesday prnewswire deal like because Vlocity is a relatively small transaction to! $ 27.7 billion this without him that data together salesforce earnings call 2020 with the.... All channels speakers ' presentation, there will be very helpful there will be very very... Or even getting the customer all being personalized to and saying, help us to provide some insight... 'S an extraordinary, inspirational company that is thanks to my co-founder, Marc, and we really entered unique... They announced the purchase of Slack Technologies for $ 27.7 billion know this data is not just Salesforce... Must know Wednesday prnewswire we anticipate capex to remain at approximately 4 % of our fiscal year,.
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