CRM - Earnings call transcript Q3 2020

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Operator

Ladies and gentlemen, thank you for standing by and welcome to the Fiscal Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded. [Operator Instructions]

I to delay conference over further Mr. to without would hand like the And Vice Investor President Senior Cummings, John of Relations. Sir, please go ahead.

John Cummings

Thanks and thanks fiscal Good afternoon, us Ian. results our quarter XXXX so for third call. for much, joining conference everyone,

a results, call of IR at can Our our today's salesforce.com/investor. on replay filings found release, SEC website press and be

Weaver, With Co-CEO; Bret Mark Amy Co-CEO; and CFO; of Keith Taylor, Officer the and President Hawkins, today Product Marc is Corporate call on & Block, me Benioff, and Chief President Affairs. Chairman Legal President and

As in earnings a guidance our non-GAAP primarily reminder, our our commentary and release. press today GAAP non-GAAP will be can results in between terms. found be Reconciliations and

any prove differ materially forward-looking actual which may Some of could to today to company our or results forward-looking these are statements, comments should our these be of materialize assumptions. incorrect, assumptions risks, statements. contain Should from subject uncertainties and

other affect filings, are A assumptions risks, uncertainties these and and most our including in could factors Form included report recent description XX-Q. that on results financial our of our SEC

And me the to turn call Benioff. Marc let with over that,

Marc Benioff

good, and been Dreamforce, and two fiscal at weeks Very here in the results saw and an hope in third good everyone, and It's of you, amazing are Salesforce all we call. had you you and Tower. just are John be with thanks top they since Phoenix, San conference to you Francisco of time. at most have I am with XXXX I delighted quarter for us John. thanks for joining Block thank is and our afternoon Keith I

constant more We billion, were billion obligation outstanding, total than up remaining XX% year. ended QX the thrilled I'm XX% rose revenue results with last our to versus that $XX.X up performance and quarter to $X.X currency. in share

$XX the represents couple the of growth raised for high at revenue fiscal year year a our year. guidance XX% As of range. we've ago, That full billion, weeks to the announced we end

year for XXXX of fiscal billion initiated growth the also high of range year. $XX.X the at revenue We XX% guidance the approximately end or

What's also Ohana. billion, the extremely enterprise exciting company revenue by milestone. with to really us $XX more to $XX to is the our me double XXXX, of fiscal to a fastest It's we year incredible, are significant software billion company making exciting target reach and for and that really that all of intended it's

incredible as revenue record -- driven is to by year because one to starts why with committed and growth And continue Companies This we deliver to this the our out, incremental committed to coming the That's for -- are year Salesforce is in CRM. for margin. with we balancing customers. growth the sixth of we number continue we operating Salesforce row, transformation in are success transformation year and every the a customer. digital ends

IDC the market marketing, by latest we application service, share sales, and Provider leading in to tracker, platforms. software data integration worldwide and driven every at every Customer of Tableau, two the and needs information architecture. company two that's customers’ technology analytics, customer XXX. view digital their XXX-degree Every components power components intelligent solutions at now MuleSoft semi-annual we're And valuable of one valuable solution and the transformation of leading have of extremely and our the according trusted and very strategic an model

State this Louis Farm Vuitton. companies and vision together, saw MG you and bringing companies at customers Our with Dreamforce for their and like

single truth. to our an entire Customer XXX XXX build magic in across now behavior at marketing, experience, build integrated, predict Customer Truth, they customer of anticipate every can source customer unveiled we fast on the needs. any and Customer device. can Dreamforce. personalize can They It The mobile they sales, is apps service, Now modern connects from which all data their XXX commerce,

other all Salesforce, highly of personalized, customer is what we every of this. of understand Einstein, to deliver inside to This it been into customer highly view connected And could them. together company platform. see across solutions, we're our touch to at bringing Salesforce complete smarter point, Datorama others data by available that for making No our this experiences a companies have do right can it's analytics highly giving data the and company it powerful make to and built a intelligent, their allow customers every decisions. anyone We're and making one every asking possible Tableau, apply and and

of Because IBM, Dell, why data all just We in have Microsoft, Salesforce, incredible this many solution others. to work strategic continue deliver working, want. open for know what That’s to with a innovation work is platforms. These customers we many it's Google, not partners; Amazon, partners our we're we for and know our with and us partnerships why deliver to critical customers HP, That's strategic and customers. incredible Apple, our success. our these

We're scale. tremendous doing all this of at

during on fueled our billion delivered critical more customers’ visits, emails up XX% time than XXX Cyber during Week. than XX% more Cloud Week Cyber incredible. Cloud this site customers. more more were our Digital Commerce million up up during XX XXX processed than Cloud up Service XX% Just processed sales also Commerce XX%, for Cloud million agent and orders, Marketing amazing. year-over-year, also interactions It XXX XX look Customer retail million growth at year-over-year powered how than

of whether your an you also Einstein, smart CRM now what's Week, that and orders with and any the voice saw voice how guide. digital ask you speaker, At by Einstein to you're a Dreamforce, powered not any forecast, speaker, skills, velocity make numbers on demonstrating during Salesforce company the Einstein will product or my can new to quarter. incredible tell you their Cyber giving showed is for driven our Einstein Einstein build Hey Einstein work X% Einstein custom the speaker, going apps of and see personalized can can recommendations we We your employee

of on and and online through free revenues community is from incredible That's trailblazers. platform. heart worldwide X.X million ecosystem learning the will $X.X contribute trillion We business in have changing because and careers of learners XXXX new At million our now Trailhead, lives XXX jobs, Salesforce X.X XXXX. the their Customer

Trailhead continue invest We in to digital the participate economy. enable more to to people in

mine, Before Dreamforce I We remember see sad he of to Tyson. handing off Bernard’s Board the it's us. and one memories. close Bernard a but and and to of world. very dedicated take a member leave so moment him CEOs, for Bernard loving our want very to for was He friend to Keith, was others friend the and greatest did much

as Board, industry, Economic dearly. We have incredible Kaiser, gratitude will well for to as Forum, miss the him World contributions to we the the Salesforce healthcare the Bernard's and incredible to

Now over Keith. to

Keith Block

a Hello, an I friend of on incredible Thanks, everybody. a Bernard. leader as Salesforce. Mark's to great Mark. comments at us echo Mark many want said, He and CEO, of close was community

So his going miss and heart we're all to family. go out him our to certainly

an heard Mark, month, a and great another Dreamforce weeks really amazing just from is you had and really just quarter, we as Now, last few short ago.

we that of to and and saw social and the harnessing and mobile success. voice growth to AI continue cloud power other and and innovate fuel technologies You customer amazing

digital major companies become to met at Salesforce. they geography to that's clearly of hundreds across are experiences And is CEOs and and industry speed in making an transformation customer exceed During that is that and understand and sustained more I that Mark of and All want Dreamforce every deliver innovation absolutely imperative. why expectations. the the they increasing centric, the quarter companies more in want more with

helping businesses pillars reorienting to they're model, we degree to their just remove transformation. advisor. every of transformation, and is holy trusted achieving more But three grail a technology, XXX legacy We're silos, are with break us of together, absolutely than view coming each culture. These digital turning Salesforce of to customer, are they're absolutely also pillars and three And and for digital business them down working liberate them customer. around all And technology, our data we're customer their that their on as essential the the obstacles.

And you nationwide. with build to brands quarter, continue and this geographies. across leading industries, as expanded saw We expand and with we relationships

managers points customers Now historically, wealth most the touch and on with happen nationwide phone.

to Salesforce a digital of advantage to customers. personalized provide take the consistent, experience expanding they're channels Now for with more

United reps and a in and they well, Excel across quarter of Carmax use the seamless the homes ensure of their States. shopping across vehicles XXX view they're expanded degree buying States for largest unified with businesses channels. of United in in Salesforce experience, whether dealerships, a as the or online have They deliver the expanded of experience customer, all dealer with will powers a Excel the Energy, pre-owned us customers to millions now Salesforce

company serve its community. crop seed there's on us also business quarter farming to a They focused then better the And expanded global production. Corteva, the with continue to modernize agriculture in and and

Americas, across to and we EMEA. in expansion in currency. the international the and As during grew our XX% the year-over-year APAC we see at growth continue constant Americas recent EMEA, all results. of Tableau growth And Dreamforce and of great the acquisition our investments key world we QX, our is course, In XX% of levers Day with that, in XX% Analysts and one discussed in is benefiting in make

in At EMEA deliver footprints. degree expanded of with provide to so personalized they a these low France, solutions carbon view set customers’ provider reduce recommendations XXX in services define of can and that energy consumption, of a energy Algae, headquartered a global carbon

in manufacturing the company companies the in world's and quarter revolution we've the the strategic old of to been its in of Salesforce addresses digital Europe industry. one also partner Siemens, great the Siemens industrial with year XXX brands, as transformation a expanded one largest

services ANZ chose Panasonic super and some with and the Airways Japan. funding company was also it APAC, quarter We Bank, we in They in Life food expand Company, EON British wins a Solutions retail an and Salesforce there in group. Corporation, with Sodexo, have also

we in leading Latin Columbia, Cera a with [ph] company. And finally in America, a insurance had win

our our innovation, industry Speaking and of we and momentum quarter of that introduced new goods our our two to very proud success manufacturing the consumer that the cloud of cloud. language success, in industry clouds customer propel the continues and customer

new cloud our out our also financial extensible one of clouds. services most We for rolled capabilities insurance

help chose in provide a them chose to of Financial one pediatric around cloud, Health, Farm also assets. healthcare, the They which Children's billion also experiences. providers we including expanded We financial a also Credit which new health $XXX worth more the care In America, patients had financial manages number cloud. of services nation strategic even services of wins reach industries with Services Ameriprise and in of more better than relationship cloud the FSC, QX, with Salesforce, largest formed

see to significant in sector. continue the We public opportunity

to of veterans two to for this Department enabling our our the business of highest a Affairs, U.S. agencies. And with the fact, service Veteran the In million largest expanded isn't agency XX In we relationship programs. government the variety the opportunity. level quarter just are provide United customers States of of

At believe us. veterans careers and served we have who those stories inspirational heard to and serving from Salesforce serve better from incredible are focusing Dreamforce and our ecosystem. on that transitioning the to I people obligation truly moral these their of a new should all us be veterans. It's powerful are who in hiring nation

to our to MuleSoft We services and of excuse Colorado, relationship also country integrate state key county with to of serve implementing single Seven agencies and which give into -- Health expanded view me, these workers better is engage the citizens. agencies aspects a all human

they to help as drive our partners, Our well. continue growth

is XX% than XX% more and in ISDN our have installs. year-over-year increase to that individuals exchange a partner the year-over-year, listings contributed app have X,XXX consulting We certified customer partners more with

enterprises. and entire Adam, MuleSoft to I some incredibly see similar opportunity unified has been we've unlock accelerate. strategic to the very in conference integration, his Stanley to Home and team I A others. allowing Depot, customers is like at management will and successful many and with the every month, you, adoption spent time having our tremendous who and and their continues an impact is to I Turning many, Dreamforce data conversation a Tableau Morgan Tableau. having team could across Nissan see tell Tableau acquisition, their been is with customers excellent, I last on and excellent

very synergies beginning excited our and product from process, away. and clear so we and a are are cultural just but standpoint, very, distribution, customers We development integration have this are

partners, their for and employees So our in support. continued to closing, customers, want our our I thank trust

And with Mark. over that, to I'll call turn the

Mark Hawkins

line revenue Well, another top strong as operating flow well both growth. We reported and thanks, cash on in strong Keith. great delivered quarter as organic growth the with QX basis,

Salesforce.org. CRPO revenue revenue XX% in Total highlights. in Salesforce.org. in revenue constant and in constant over in and and and dollars in few constant excluding of acquired CRPO over currency. the CRPO XX% XX% in dollars in XX% currency, from currency. Tableau Total a XX% constant XX% are and acquired currency, XX% grew impact excluding and Tableau grew from Here XX% dollars dollars

$XXX for take $X.XXX with revenue. Tableau, details from billion, revenue through the Salesforce.org. the $XX quarter Let the starting from million quarter including Total you approximately me some third of was in million and

QX to of and third approximately we Just in as the $XX in quarter in headwinds and continue sequentially. QX, year-over-year, and million million we saw experience revenue approximately FX $XX

platform growth and MuleSoft drivers XX% at as cloud of cloud to sales grew contributing of million at see strong subscription approximately cloud Tableau revenue year-over-year Service acquisition Looking while and -- at growth commerce growth cloud, and And approximately by growth, platform and continue year-over-year, other. the $XXX reminder, XX% our to marketing XX%, growth XX%. added $XXX a other we and with XX%. cloud platforms at and million of for other, support to

below with attrition and the have in seen third in remaining continue down the we continuing attrition several trend downward Lower quarters. year-over-year, growth support the XX% to quarter modestly our dollar last

margins, operating up XXX non-GAAP points was margin to XX.X% year-over-year. Turning QX operating basis

non-GAAP Our of operating versus in the and the this as Dreamforce timing the of in quarter. last sales QX the marketing margin other well reflects in variations investments year QX timing year, QX as

was share benefited non-GAAP adjustments below diluted approximately $X.XX. and $X.XX. GAAP the loss line per EPS loss per share In non-GAAP $X.XX mark-to-market the by GAAP QX was and the EPS diluted QX

in In GAAP than Tableau, quarter loss anticipated approximately results diluted better as $X.XX. outstanding performance EPS non-GAAP share well by and from better the as business expected per addition, than shares benefit including

basis, renewals, in flow which cash. operating was to quarter number year-over-year. by two, were operating driven than number third quarter a contributions we cash Now growth of deliver XX%. collections occurred And earlier Tableau approximately XX-month flow XXX% the one, pleased cash terms cash flow Operating timing cash a in was turning planned. of from trailing of On to of up the cash to due million, $XXX flow, operating

a free to basis, CapEx for XX%. approximately month pleased flow million. leading to of we were cash a defined the is trailing quarter CapEx as $XXX flow cash was of cash On less XXX operating million, which flow free deliver XX growth

basis, XX% Now billion, approximately constant RPO the year. Salesforce.org Current remaining XX% year-over-year. Tableau approximately $XX.X third a billion, million $XXX up amount. and current performance CRPO ended On to at obligation $XX.X contributed was versus growth XX% up approximately year-over-year, last up this quarter was

$XX $XXX we're line a growth $XX.XX to approximately pleased million outlook million our be FX Now Analyst for of approximately Day turning approximately and of revenue November year. expect excluding million to billion contributions full-year from growth $XXX Tableau reflects discussed we of raising the full we for on revenue full top headwinds XX%, guidance, our line at $XXX year-over-year. This as and Salesforce.org XX% approximately to of approximately FYXX XXth, top year billion in to

year-over-year. be expect Turning margins, roughly outlook to non-GAAP to our operating operating to down we margins basis for approximately XX points continue XX.X%,

non-GAAP Excluding our margin the impact XXX FYXX more points. of than basis operating expect continue year-over-year acquisitions this to improvement to be year, we

non-GAAP to $X.XX diluted GAAP FYXX our to $X.XX to updating diluted EPS $X.XX. $X.XX to we're EPS, EPS For and our

growth to are operating to FYXX For be cash our year-over-year. flow flow XX% raising to XX% guidance operating we cash pleased

For or in from This revenue growth of $X.XXX Tableau QX, expect approximately and billion to XX% $XXX approximately billion $XX Salesforce.org. the million year-over-year. range million guidance assumes we $X.XXX

We non-GAAP also $X.XX. diluted $X.XX GAAP per EPS expect to and $X.XX of of QX $X.XX share loss to

X guidance of growth points acquisitions. CRPO approximately We fourth recent expect of the approximately quarter. in This XX% assumes year-over-year of growth

additional into I Before I'd like some for to FYXX. insight close, provide guidance our

are As XX% to up $X.XXX providing our release, billion seen XX% revenue of $X.XXX press billion, to guidance you year-over-year. for QX FYXX have will in we also of

businesses first newly revenue quarter. have profiles especially for QX providing FYXX more which Tableau, the guidance given are We in the acquired seasonal of this one-time

New delivered cash with revenue of Happy you our holiday we and wrap-up, strong Year. progression and employees, to for and growth, organic and thank reported shareholders season support, and line to growth. continued another your a wish top organic continued To margin a like partners quarter strong flow I'd customers, wonderful

questions. will open we And for with the that, call up

Operator

[Operator is Piper Brent Jaffray. from Instructions] Your Bracelin question first from

Brent Bracelin

coming just where hoping question. the you was you I first the thank to hundreds guess order one customers customer top at color could excited the taking Dreamforce. two you and of for the from conversations my out year. here, Thanks. or highest customer Great Salesforce rank I maybe of appetite next could perspective are product very three most seems Any helpful. be where provide us products invest would on to a be you're

Marc Benioff

also. I'm Sure, that, and take love happy to on to pass Bret that I’d then to

amazing impactful. conference I'm me, is is one, for impactful for It's for I extremely that, an that's not number event else, the So, the Dreamforce that me, would that say the it's sure everybody is process. most

For it. the to up me, it's process coming

Before get hundreds and we take customers. with with road the the my on keynote opportunity Dreamforce, to team. we I And had the meet out, of

their conversations; customers in And with in in the their I I conversations going the year my this over every directly executives had And have single where using me. key I most this have experience, important they're my do case I again. deep Salesforce, is technology, have with is one-on-one of personally This opportunity thing to case, XXX over they're and business with what work. and almost many about

strategic to to XXX. especially year course, but core Tableau, especially on was these most in that our changes focused strategy incredible is what our I of be of made What also we've to being able MuleSoft, this able terms to business, is present Customer communicate

digital Keith what was as can help their they view what It's looking a all industry where That's bifurcated. is also with other to there's as for really much mentioned, about. trusted customers. relationship They're parts of advisors that at took trusted and so Salesforce I us of today level, to us in away And it's in that companies and XXX at have it the been but them Customer looking rely at they're vision customers on organization, with change also connecting bet on. the look times, their a CEO the many for advisor clear

paraphrase side, different you probably amazing Salesforce second for the place. of was noticed new the truth. Sales, are were, This implementing it in is saw this, to source single need of customer all truth single us really deliver of Customer Holy important I'll these come company, a source service Truth. really by. can service, were the On the together computing at When can single Grail XXX but that comments that to we York every was for in XXX, that That powerful a amazed so we the one Truth way in is a of Customer most me, our company of that is said marketing, on me. of financial New information single This what large that thing customer focused profile. and source customers the me in customers that just is XXX what apps just things customers start a our the

I to come to my it together. engineering it have all off see my was think I hat to really take And team, possible didn't because

some them now of they have customer are a have clear have integrated was architecture that these are ability organic, to Some extreme are but the the and inorganic, that products that of value, incredible. and for they

relationship I have think And add a that, definitely direct I Keith than have exceeded customers then a company a example, are, on has my and many And Tableau. could much expectations they our many Tableau been don't with Tableau, of to from Tableau so agree because in far to not reception, smaller I we customer believe this. it. have cases, I for touched

who we go my has to Executive The an of and any could Tableau that to executive to and directly us with have team relationship. wall CIOs, wall me don't Chief had. They management far have have exceeded expectation Officers, come number ask

industry. with Tableau you, the before things; in me Dreamforce differentiated those of now, our the resolving in I relationship what after talking to XXX both then customer; this the catalyst I as is keynote. for one, that two, a three, Truth combination profile; huge can But tell and the position in a of to and That to these tried get on trusted hundreds three stage Customer present after That growth. is customers, highly and

Nobody else No customers is this. is one this solve working else problem. No on has one this help trying these vision. to

in position are and a unique highly by a with of stratified very We globally industry. customers position

hope customers an my needs. is what came myself this it's mean, we of weeks I of that's that So into know, and sure just emotional answered keynote, really also and happening. you one those to you. I at moment before my the really tried -- that several it moment I been Salesforce’s I in very incredible really those ability because our day an the and unprecedented been friends few there weeks went, I I I had me, very for then takeaway. are just And Memorial. it's for execute open keynote, my to heard extremely express I'm I closest a powerful to all what felt up was just for Wow, in And and over preceding customers' I was

the do details? how you fill in to about And you Bret, I'd practice. for you to talk love want

Bret Taylor

Yeah.

As helping it's truth. said, and means being in but business our you're go marketing. think about which it's service digitally that’s the or than to customers. sales really of. being in really our to truth be Customer around really easier to source transitioning we're their I just single And service to their about of And to a And service them transform a a customers, from statistics, sales for being XXX, product Cyber really and in selling not customer of proud seeing Marc around this source customers commerce ever this be the and from particularly customer Monday clouds single the being

personalized. million show sent there Keith and orders. talked road being our and capabilities and to over single to talked Einstein highlight our ever. stronger messages which that Marc we all differentiator, is are though Cyber to that Dreamforce. that XX from customer AI There on than through I coming XX I heard billion every was I They're also main before want Week, really I was

by recommendation. those day As single personal those every orders driven are over are person XX per over XX% that personalize billion Marc receiving mentioned, doing engagements them. being the of predictions email to We're to Einstein one of

in innovation I Einstein we our representative. With the a think through Customer that sales Einstein really of the across in through the become Cloud, interactive automatically we really introduced Sales email. Coaching the coach marketing, this really introduced keynote, to Call sales help And we way. strongly Einstein telesales came representative every in XXX In highlighted differentiated teams best to like power

I think bringing one with of the most into tried to next new digital the capabilities. amazing marketing mechanisms, century really some

about company the our consumer in in that consumer that. to goods execution right portfolio place talked all Vision industry's the proud products in it goods Vision Einstein use cloud the placed a Even retail the their partners. with key to sure make retail Keith enable are on that part every Einstein shelves really of is of

being want differentiated a So vision it have this Customer I really to to really this of highlight customer XXX I transitioned key every we part from think adopting vision. being Einstein

Marc Benioff

to three just major you road even with got two additional I I the Bret groups. was think, were Dreamforce, asked same before the or and on narrative, Now also before you me did even focus -- your I you have ask which that you did question

rolling all and to and surprise of vision So over and demonstration in as customers this out biggest them was you've hundreds of the been technology last month? talking What front of well. your

Bret Taylor

how Customer single source just of I much this resonated. think the XXX truth for was prize me of biggest

They're were their source different single down came a the challenges silos. and systems. company. They customers. their as technology, come siloed phrase breaking number organizational their of that digital describing silos from of is truth our the form data of also in across fact, of their silos transformation, Their In

with to to to aspect I on operated that need that want to see this want their together feel customers vision. It's people of coming and singular together power appetite really customers. want previously with customer We people single, the we really that we is come bring data why now experience. technically, we components departments strategy to our of data XXX enable seamless focused really Tableau MuleSoft, all enable the to together understand all produce like match our with experience to every different So Customer and autonomy with these from personalize that to that are think

Marc Benioff

you Bret, in work have Well, the you haven't last than I seen harder month.

So I for you're want everything you that doing. to thank

Operator

next The from is from Jefferies. question Brent Thrill

Brent Thrill

planned. Mr. came Hawkins. anomaly to you stay you how that forward? just for that The given earlier Can Thanks intact renewals that was talk than to mentioned in and for pull

Mark Hawkins

Yes, for sure. Thank and what as have we were ahead can And renewal you, really a you is early imagine, when event, basically an good of a you that's they but happened plan they customer, see from effect Brent. a it that when cRPO for cRPO effect. but higher an of It's really and so QX what even and happen, between has because our in was QX we kind QX timing like can happened.

so you and to Brent. out that see quarters. of in come in the they we're a time a do and little question. people on bit and But, shows it and, that up cRPO early glad in for thank had shows up it when in how sign works And it, and quarter yes, bearing in renewals that's two it flow cash there one the customer good a there It's our but between

Operator

question next Keirstead from The is Deutsche Karl from Bank.

Karl Keirstead

XQ, why don't XQ cRPO bit just performance was feels XX%, Hi. which I up light. Mark, in pick more? XX% bit The question up put to terrific. the for guide little that to you a relative a So, on little organic

changes? extra how perhaps there a or and just duration big be Thank other that if quantify macro was maybe may maybe guidance explanation, little to is given contract that careful you there impact your on touched driving being are some factors So XX% it possible for was you. one number and

Mark Hawkins

Yes, sure.

glad a do Let couple me things it. just here to for sure, address Karl

first measurement that time point and the Number renewals event a think growth of Tableau it's business of first want us. so, for time compositions kind rate And or is would the one. our we're the that by for call ever in we've by for and say I let's terms of approximately number guided say is cRPO this a I actually the type I impacted new doing thing out also evolving. quantification, early the first QX, two, in so adding it to

good the And that, and at you QX issue at actuals guide the forward look if the it and so a both works and we QX, up kind We you and in all biggest just out It's like appropriate. we in to when looked the see it result new is when fact feel the it's at can guidance. quarter QX, at appropriately given that we what and putting think but of the business in that's that timing conservative reasonable for about looked this we talking actually renewals. look happened

Operator

Next from from Hindlian question Sarah Macquarie. is

Sarah Hindlian

thank One B, maybe in purchasing been Marc, that the increasingly customers’ maybe commoditized. XX a you've to data being little of are first augment versus growing regulated longer data, for a you. gaps that question party platforms or third months from Marc party Okay, over importance that noticed we've or the so past past

customers So multi to XXX with to be little on you value mosaic you're we Customer follow have this a data you've value? of do that help into just able Einstein, help right going Are XXX? of to party their valuable bit customers to and mosaic putting adoption Customer building And we with the of feel first place how track Tableau MuleSoft, today been cloud between data like in realize we'd the this sort a CRM, and you data. to most realize believe customers are data or know own going their

Marc Benioff

President our part it, who also great exactly going Chief question who's so it, is speak to and Amy but address because is also many customer of to All Bret this. our and to conversations I'm right, she's so this I'm also with here of part Legal right and Officer, address involved Weaver have going it a like

So, those those then upgrade buy to to for allows known. products This their customers them you're products It's understand ever more to service is their that right, information building from take or relationship a products companies with them build customers. Every of has then customer company have relationship is those get than or from their to those to trusted critical a products. consumer, before. their one-on-one journey moved a it critical anonymous being their part with

include back. or even the customer, the the customer renewing even getting could customer That retaining

All effectively, and efficiently of way dynamic like more XXX in more driven much going to by a a this platform more much using is be Salesforce. much Customer

to built we those because able customers, their have of the where at to be on source regardless with a rely able Truth Customer moment, and why a where customer be say, help is that over to that the single would their last, unique touch This relationship maximize phenomenon years provide us is and companies is. that to really are to point occurred of XXX. to XXX customers Truth Customer is saying the Salesforce that company has coming five This I

in of give implementing Bret, where this move How we the didn't third to us from exactly So party data? are the of on platform, customers part I are terms take Tableau first party her your address question.

that's think important. I

all we'll because having related well, Privacy that address we've data And components in these the basically, customer is Go to authenticated the have to Bret. use. California are seen as of the think Act, then GDPR ahead around your authorized and I Amy importance here California,

Bret Taylor

really to we aspect service with Customer this to like can Customer handle every trend served really equally the wonderful sales data. for not system a from commerce to record But started say, customer sales. I question. it's with you mentioned. of And a would CRM every it has bring first feel XXX, marketing. of that been to help of being agree to I this And single Salesforce aspect the party XXX Yes, we as

As of with one in every company Those recognize of data our that source Dreamforce source we're every platform we for, which as announced an their truth, marketers at a well. many of department we clamoring audiences, needs that really constituents so jobs. truth do customer every single single marketers are example Customer bringing of to to XXX a

really across like unlocked we customer feel different power And that data known all is those departments. when is accessible the

this is you feel of So like entire We're for Salesforce. doing create that's for seamless we're this instead our hearing department doing company. really what customers fragmented what just a differentiates a from experience And not experience. I'm one an we

have customer So of a all data. your can view you of single known

first and Salesforce this help that regulatory speak more navigate landscape it. pass to legislation will to platform. the with feel that's to we privacy this amazingly step I our where And to of XXX. of privileged a it's And to customers things interesting navigate having landscape live. your landscape this And complying one over one data to speak all them our map CCPA, with it be one think Amy together, is, value best And the with Customer is to of customers the changing really customer on is ways But complex really Amy we think about GDPR to feel of of about. bringing our you enabling propositions the by of like to the consumer partner I'll the with we comply

Amy Weaver

Great. Thanks, Marc. Thanks, Bret.

I with trust their a same is to high. to expectations of they And to key exclusive. an see information really They the have data the and don't consumers that mutually interesting are that's And we're want personalization, believe personalization think is want not really experiences companies is building them. all-time to about this used we maintain think because about and be at question; they that that all personalization. not how looking relevant it's time, consumers’ I But their high forward expectations trust and seamless. privacy

of virtuous In cycle. the fact, part they're same

good and The and customer to success customers with consumers. it's relationships example our personalized trusted help platform designed with a features customers build is their

that they their customers really features journey used customers will our built well. to help data partner robust how our For in on example, had with want their its and determine compliance as

all landscape. and protections, not privacy before, is Now, forward California, and in privacy Americans said But there federal Consumer California which Xst, believe mentioned, Marc, really because those as to that January effect the in is going we privacy comprehensive Act, continuing really that law. that's Privacy the why into strong just I in CCPA, for advocate the important are is step we U.S. and is briefly that

you. thank Okay,

Marc Benioff

a done, add to have I've we personally national it's like happened in law we've called for And This U.S. to patchwork I also of I California. worked seen why California. has in privacy important. that's what think Yes. extremely Amy have What do a involved, as That's not but need across GDPR, Amy, States. We us the that United want privacy national get it's our the to badly we did a ability to it help why comply. to customers patchwork team law. don't the we great that gives with want

I for leadership. it. anyway, So Amy thank you, really your appreciate

Operator

The from next Keith question Morgan Weiss is Stanley. from

Keith Weiss

little lot about result, of a up just than better Excellent. are really we're XX% on Thank -- the of and October, was of European had the kind for the people uncertainty of Or which business, a question. over touch I uncertainty sort environment? guys quarter priority you impressive the the CIO to the the wanted is spending macro given Brexit EMEA a closing -- you guys taking environment thinking in bit over you a it have sort overtaking any from uncertainty. Europe? Is about just in that

Marc Benioff

digital and our have would last it. I customers, end look Well, ways couple list they there's a all think at digital everybody stop the is in. Number trusted at different transformation wants transformation every transformation company, believe a is the that one and I for that the at beginning advisor companies that number all we customer. is is I mean, one to that you own on thing look everybody's of investing at digital digital your look really

why So results. strong that's the why we're especially well positioned you're seeing and

of the at what look is XX% I Day, with X% X% going to macro this different that's the dropping That's said from OECD Analyst [indiscernible] this environments is, at the said year. growth impact side, see that global strong to year-over-year, differently. the And On a macro geographic reduction environment. course, we also you which

And to of countries for a us full portfolio manage our job world. is across the

in all whether in change have a continuing customers new of their We also because buying of will, Chief own you our and to critical Japan, take happening Jayne-Anne we I or so is implemented that Europe that Asia Gadhia UK they And and be Officer transition Europe. States need be and technology Ireland a very we to invest major hired believe invest or Executive for own to in our if that's the Brexit, in can aggressively able in to in what's in centers through United it UK the the Salesforce, the the know you are structure We had have environment. we're we with advantage and align us. transformation, European to Ireland.

he Mark over going turn is more Let it have to me detail. to

Mark Hawkins

is is, aggregate. digital in Marc help you of asking the that out… if to from agree say I us and by more Marc. and one, growth them you, can with transformation people But thank really pleased No, mission And I the would But described put as comment your that we in XX% are obviously, how and thing more backing Bret. you're I even the rate was up terms

Marc Benioff

them And just numbers, incredible. you, mean surprise did that of these you when are some at look I

Mark Hawkins

That number, it Marc. was a number, really big

people clicked Tableau it's in all back you I if to and out even up the So effect, wanted it, XX%. with share I

in and also with number the different and in or is when that Americas world, Tableau, then level, that strong I the that, geos cloud, see and hitting really that's without the the at in really catches like grew it Pac Europe, XX% cloud across So me, growing my eye me foundational as hit our we're you see Asia to that. cloud for our the growth, was material to is glad sales that said, I what is

Marc Benioff

by quarter, A, especially I ability of should biggest to the I growth, let just numbers. we've forum turn me have But you Dreamforce question it ask what Incredible your And that times. through went on? the but cloud, a the you the is couple all of think heard surprise;

Mark Hawkins

think to to see when of just when constant is people more they customers a with And spend probably addition get lot want I point for source single thing couple the in up is And as time like, more chance I do focus you progress, of biggest is people transformation thing on know us they on No, your that spoke think that I the ask you progress. surprised the that times And to investors. they in truth. me of a a pick on that. I Bret, digital

attention. my really is we more caught thing I do that think And the so

across the across terms geos liked of most. what I quarter the In and clouds was balance the

Marc Benioff

Thank you.

Operator

Your final Bank of Rangan America. Kash question from is from

Kash Rangan

to Salesforce Dreamforce reactive so. it's because participate versus to spectacular years that the do you this something Marc, to you fill Keith. I'm allow of Does XXX? allow for the you just to opportunities One XX in executed we spectrum Congratulations going proactive for that you one is, and customer or of hoping back for the execute expects tried yet in. XXX be the to again sort Siebel that a in that game can Salesforce at this stay of when How faster or guess, Customer bigger back has I look team. to think concept Benioff industry on do days

Thank on Tableau MuleSoft, you I mean, model of how growth it's And under Tableau think could its what's as you or way in to for Keith, successful successful and so apply How an being up congratulations as even much. Salesforce. been to right about more MuleSoft? this accelerating end would acquisition maybe

Marc Benioff

first the part So don’t Mark, take why that. you of

Mark Hawkins

right, you’re that pursue which entered for is with I XXX% position XXX, Customer Well, we a unique customers. our really

critical as that and to unique today, that's of customers they're provider platform position. Our really their us a looking

this of many vision the have been maybe customers. with in market, companies single source think execute it for of sales. together all there ever to before You course, CRM I in tie service, there's has has a don't Siebel, and their a who maybe been truth been mentioned in vendor tried

you Keith for needed us this was mentioned able customers to to this our help We step love about position want I and has this of wall-to-wall and our really this well, that shifted Tableau as as move But understand our to I talk go his all to to customers, for critical going customers with Keith? MuleSoft, is Keith able the together. data to to next to our all as be Tableau, critical to take And ask mentioned of bring next. you forward. MuleSoft be is experience

Keith Block

Yes, thanks, Marc.

just Kash question. address So and couple try course, for other the to commentary comment. -- and mean, things, question. I the And of I'll a some Marc’s

the in the been for degree has like the entire industry view XXX of career, customer. the of So my yearning

go and of the Bret in largest of and I the There recognized companies that it. grew Few market And process the every the through companies this up back, company of earlier. as and a view builds so organizational world of world those silos, out on, product the that are having world silos, customer business have importance silos, company gone time to how were overtime about grown a a up the alluded CEO a was instead with with we power one has silos, this model view insurance the of and conversation has silos, of huge weeks companies data to to in in and digital of has the transformation.

be to imperative. is to notion, the the mean, to the And that the an have I promise customer. embrace make able work, journey they degree of the that platform, of XXX view

very a talking the the looking excited been provide us to customers first in for they've So, what for, give about to Salesforce hasn't long. for company able about this that's at reality. it why time industry, so this, technology the Because it. become people been we're has a That's been have

inconsistency all about the truth, just you and want all And over data up exciting. very of very, when want truth. these single with source and it's So grow think no they the the all we companies truth. the place, how Like the

truth. expect truth, Our customers customers the the their expect

So it a with. thing very, able to provide powerful is very them that we're

of data. are And nothing power the the about the record. excited of super the if As it you where Well, are the opportunity. systems are engagement is think relates going, you an systems part again, of is about incredibly and unique Salesforce we're intelligence about of And think Tableau nothing family. without the data. intelligence And technology analytics, the And data. the evolution to about of with systems Tableau nothing of without being record of systems visualization

parts. run integrated customers where has bring an looking the breed a which that have piece solution, we've of a want. that the you for looking in we've been so what successful. are customers And MuleSoft for very, most best if playbook our they're for successful solutions far view, they're not run of very together is Certainly been acquisitions, And in all looking holistic can way that

we when the customer, great that of it the great up run I in for playbook. great way was we of promise offering. with process But a compelling great Mule, Marc way, management exact serve in playbook the able comments is company, was we can view the enthusiasm echo so I just visualized the both combine intelligent with It's Bret's that that it of So and and team, great. a and would you it. all XXX very mean, earlier, company, degree community. an being the will to alone digest ran same a a Tableau

think that's and and why combination will very we -- Salesforce successful. very, be So the of Tableau,

Marc Benioff

huge agree. I see Tableau Well, really to thank you for thank the around the could think lines And I so And Keith. completely wanted Booze much from I just you, that at and on you Dreamforce that. it Dreamforce. analytics many me. I and to see before Dreamforce. of happening know focus the of calls was parts surprise a of of surprised other activity it groups us Because to in and was many you not the what

has Thank this than I now at direct thank all for local up for over I volunteerism to do While Tuesday all of of X.X you you .org free. your the of also and just Dreamforce. us you time we're into coming away customers communities our want is our Giving we non-profit Today higher that We've to more holiday $XXX done run coming season. over million especially grants. Ohana. call day. thank XX,XXX hours single for million year, to want given of want for education and every now, everything to Thank who into wrap the our of in support. especially I all you for the thank

look thank you. Thank York. very in in on our XXth you forward and Ohana Tour Thank of So York New much. to the to to seeing New you World the you you all we'll City

Operator

a your today's Ladies have call. and concludes this And wonderful conference gentlemen, participation. Thank day. for you

Salesforce (CRM) 3 Dec 192020 Q3 Earnings call transcript