CRM - Earnings call 4 2024 | Salesforce, Inc.

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Operator

Welcome to Salesforce's Fiscal 2024 Fourth Quarter and Full Year Results Conference Call. Please note, today's call is being recorded. [Operator Instructions] I would now like to hand the conference over to your speaker, Mike Spencer, Executive Vice President of Finance and Strategy and Investor Relations. Sir, you may begin.

Michael Spencer

Thank you, and good afternoon. today Fiscal us Results Fourth joining Call. Conference for on XXXX our Quarter Thanks

SEC a filings call release, press Our and found our can replay on website. be today's of

Chair Chief Financial and the is call Officer. Joining Chief President Officer; Amy me and Marc Brian on Benioff, President Weaver, and and today Operating Millham, CEO;

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

by may today risks, incorrect, could other comments our assumptions hand that our including XX-Q and recent our of forward-looking which factors included is statements the our change. filings. update let materially to undertake results to of Some to other of actual these SEC call and SEC should statements. And subject Except we are and contain could description affect in with Forms differ these materialize from uncertainties me Marc. could risks, forward-looking be that filings, our results assumptions required prove or that, any responsibility assumptions, these report uncertainties and company law, XX-K, A any these forward-looking Should do any to on over not risks most financial statements. as

Marc Benioff

and Hey, on Mike, right. All thanks for so hey, being everyone, thanks, much, the call.

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Brian Millham

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lending Jain generative for was using across opportunity in their great and to they our which on a priority him meet run predictive top the January, had AI Salesforce. to CEO, I deliver entire business, Einstein with Rajeev and

cloud their became platform Bajaj One data globally, building second customer QX, Einstein In largest foundation the the on AI

success partners, for amazing and have to customers us who shareholders close phenomenal our possible acknowledging want that XX I is only by trailblazers, our because years. incredible employees trusted

when something results And deliver in I'll it 'XX, FY with on you, As that, profitable and over that we is to growth. company, focus as 'XX, turn focus a Amy. on FY we we proved

Amy Weaver

Brian. Thanks,

on am what join proud the sales me transformation it for has accelerated force. this Let a we and At time Marc year of our on laid out year, I saying incredibly Brian been last plan, and year quarter we productivity XXXX, continued execution this pla. made fiscal operational the and Throughout and delivered revenue, increasing of QX we represents strong that progress business. profitability, across discipline excellence. significant another against

the turn to let's results. Now

quarter, For nominal for constant resilient constant and in fourth full strength up and was the both year-over-year was as sales up primarily currency. performance The was as and by XX% year, the Tableau. $XX.X well in in XX% MuleSoft revenue year-over-year $X.X billion, growth and currency. XX% And service driven billion, revenue

XX% perspective, high in QX, XX% From in an grew remain and in measured. constant while travel parts and and revenue generally Canada, EMEA were a and performed in perspective, India more and transportation and currency. constrained. Americas grew X%, geographic industry hospitality, currency, QX, both APAC constant strong while goods We saw tech grew the From LatAm, XX% business new of sector retail in XX% well, growth EMEA or public consumer or

top included or continues. more In more of included top than also our momentum X X more multi-cloud and wins our X deals Our clouds, clouds. QX, or of XXX XX half

QX, included are AI As than our half you've data, of already with in heard, and Cloud. seeing starts wins strong we Data top In momentum Data more Cloud. XX

slightly year-over-year. up with XX.X%, up year, we margin XXX margin the in QX points for XXX quarter up operating at XX.X%, points GAAP QX, of X,XXX year-over-year. line recent operating the basis above margin year non-GAAP basis points quarters. revenue attrition ended our guidance, delivered our line at ended operating XX.X%, the non-GAAP X%, with basis And was full In in And generally year-over-year.

And $X.X year-over-year. cash cash year QX was XX% billion, free flow up was billion, $X.X for cash operating up a flow billion, year, cash record XX% QX billion, Full operating full was up year-over-year. was $XX.X flow up flow $X.X free XX% XX% year-over-year. the year-over-year.

ended which remaining $XX.X strong in to particularly year-over-year driven incredible XX% currency, renewals. constant XX% under billion, at ended revenue turning on and up early at $XX by Current obligation, represents Now XX% or billion, remaining year-over-year. execution performance CRPO, future RPO, an performance up all contract, QX obligation,

Tableau. license performance revenue from and of and benefited business also new from timing We MuleSoft

expected, professional was partially we which headwind point a As X had offset this last from noted by services, quarter.

X% $XX.X year-over-year. of On guide. the few expect let's we billion X% on turn full to year Now revenue, guidance. with a billion, revenue to note fiscal growth to $XX to 'XX. A Starting items

year-over-year expectations headwind impact. Our $XXX FX a million XX-basis-point or incorporate a

pressure business in also expect services be FY headwind remain will revenue. professional and 'XX to a We under expect to our it

expected guidance, constant our above and to support growth XX% currency. slightly revenue subscription Within year-over-year be revenue in is

to measured buying to year the impact revenue from stream time that bookings line began of This back environment through in include takes our 'XX. reminder, effect the top subscription lag flow revenue the our due As to a fiscal recognition. expectations

environment. well said, execute we the in That to measured continue buying

that to I'm this on well to you growth. positioned quarters, Over bookings into build our customers say new we're as the happy and incredibly from bring seen Marc, we've improved our past X era. success AI And heard

AI, On above turning a X%. expecting 'XX, expect to remain modest are including to Starting consistent we the we fiscal representing at businesses. And Despite operational headwind, we year-over-year, making still attrition. operating while fiscal opportunities, expect XX.X%, Slack of our slightly for 'XX, efficiency. improvement non-GAAP in drive margins, in Now investments notably to metric. we in and core key growth XXX-basis-point data excellence, productivity year invoice a margin continue attrition and

be X% a disciplined is we a as equity-based program. expected revenue below compensation continue take percent to of our approach to Stock-based to as

representing XX.X%, is As point fiscal to a 'XX, GAAP the expected for basis result, the guidance operating improvement am year-over-year. margin that year XXX surpass our time for I XX% first pleased at a

We expect $X.XX. $X.XX 'XX expected $X.XX. year is be to Non-GAAP of fiscal EPS GAAP diluted EPS to $X.XX diluted to

we in seeing our transformation, market improvement focus our a growth of cash and result are on profitable a outcome. flow As continued

be fiscal the cash approximately flow the a to XX% expect XX%, flow expected year XX% year-over-year revenue. to for is approximately of taxes.CapEx year. in to growth cash of XX% 'XX slightly includes free of fiscal XX-point below results growth operating fiscal headwind from which This cash X% We for year

or revenue of for MuleSoft day has our year revenue, point XX% up extra in year, billion of to which and QX. guidance This an CRPO. from recognition has X a from $X.XX in no to revenue on Now QX the constant timing headwind nominal in On Additionally, we the year-over-year license expect full $X.XX given XX% leap includes impact and billion, benefit Tableau, a revenue currency.

XX% constant CRPO be year-over-year in QX is growth to currency. for nominal expected and in XX%

of GAAP $X.XX to $X.XX expect of QX, EPS we and $X.XX. to non-GAAP For EPS $X.XX

to Now return. capital

driving we Since of QX, more to we average shareholders, the committed price purchase repurchase cash flow, fully are of form than investing than FY with per in total an offset 'XX $XX.X stock-based bringing from more which inception initiatives. billion free in our flow and We billion year have In repurchases, to to cash dilution $X.X shareholders, share of $X.X now while growth our new XX% to share. of billion organic the fiscal our in program, returned returned compensation. $XXX deeply free the return return or

And incredibly our to I'm first excited ever announce dividend.

we reflective business have long-term We ability are enhancing future our confidence drive capital the of strategy our flow. of the in return our cash and to

at starting has initiation the release. a More dividend press dividend Board $X.XX. approved available in of Our quarterly of details are this our

our billion progress a approximately to Board the on $XX approved our remaining share date, to repurchase $XX has balance is in $XX increase the billion. Based plan, to Additionally, bringing total authorization billion. the program the

company. have In closing, progress I very I'm want the to an echo throughout proud Marc and of the extraordinary made been has year. we Brian. This

personally our and also We I support are while executing future. thank year our this want over transformational year. to shareholders who for continued have their for past this our employees thank worked investing past with hard so discipline,

think better up Now for call we the questions. Mike, I open

Operator

Jefferies. Thill of from [Operator Instructions] line Your first question comes Brent the with

Brent Thill

through out from you you to you Marc, And say completely last curious I'm of but what if update ready give to think some said and just that you're starting the seeing quarter, corner, you shoots, green you're plays customer an behavior? how year? terms had just turned we're not in see could that everyone ultimately, the

Marc Benioff

this saw trying said, cycle a achieve It's was is now -- kind more you a really think say then where productivity. they've And of would remain to say, see of weird middle question. like and AI, and great year going it quarter, green behavior. shoots, of if these kind And we to this a the investment was start Amy fiscal number or it XXX. got every of It's in I customer really Every will realizes, would we whatever competitive. moment last started it to I say, really go starting to one, kind they're that I major was back 'XX customer

in story. more stories of means. heard my the many employees. CEOs so so much year. all achieve get about, we be that think know higher your where customer these really do. cases, many are that start to is all better And lot sudden, I deliver certainly had augmenting -- last We've you've A more We what relationships There a productivity There's they over productivity, going of Gucci stories. more that. to tools, many margins and really to ourselves

is I driving XXX. think the that

Obviously, pandemic. in the phase of also we're the third

we're pandemic. The my of first sudden, was horrible. and we I Then crazy inflation in together. in all went rate first never were the was It through had been environment. where this through it. post-pandemic, phase anything a interest all we like It

we're going phase, people to this grow." in Now in are post-post-pandemic, behind we're just need grow. "Hey, post-post-pandemic. because a We just in we other to invest and us And because technology new better. normal search, need to and this to technology is we're all third things but stuff the invest through know, Not in

think I that, all And can ourselves, XXXX. the equity the equity in That is driving really a lot the had markets we is think, it $XXX for of not for see our markets. for million we you, customers, that I in

So and deliver. new we ready are to in are we place a

AI level green able and going here -- XXX you're driving being -- green Because and And Salesforce, what to can want judge and deliver and I you When quality this Then of enterprise be have and shoots, we're shoots. you very the you to surprised. at the anyone talk really product seeing... yourself. email all but going in see the text me get through tell You're I have think. promise or to of we to Brian, about that hope be different of the else geographies on I'll my portfolios, is of scale different TrailerDx, me if most these e-mail, capability you that

Brian Millham

environment. managing inspection X are the quarters to way still in over and demand the it. we and deep the past data are having do I And for And that I environment. are cloud doing tremendous a we we we ensure that measured Brent, Yes, for tightly still in X, business operating AI. appreciate we're seeing really very think, this in have that the

and cloud, have really in Spain. the that MuleSoft, around outstanding we've India performance on shoots and data the regional green LatAm I been Canada around The performance mentioned call. seen,

Our paying focus on dividends. industries big is really

there business parts way this we business. take really are have that we are into of that out certainly to but seeing there still So some continue to environments -- accelerate, we the account some manage measured our

Marc Benioff

Amy, of the I seen you've how also and or business the think you that should about. transformation I'm XXX here shoots and in kind the green that talk come you happening see the of talking about

Amy Weaver

'XX, Sure. you It's Mark, buying cycle, been the this fiscal going the an we incredible the environment, approvals, beginning saw couple of additional where sales deals. measured years. elongated in to as of the year really mentioned, July suddenly compressed back

to execute. I've shift I our the much buying the what and come not seen on of to and much do out think we'll And the that AI but we've are behavior, that. just over of is particular, this that shift last better few And excitement last quarters, I years, plays in that a is really over there year. think a seen that we so in data, in see a in lot ability couple executing how

Operator

question Keith Weiss with next comes Morgan from Stanley. Your

Keith Weiss

A kind timing goodness the buying and into Excellent. And question a maybe just numbers. Brian. sort Congratulations sort come for nice another quarter. really cycles this of question of on for the to on AI of

When Like right? think could in Data material should purchasing importantly, And when inflection Cloud revenue it How of investors functionality. the will then potentially and Einstein ingesting they application should they the are into about the we platform? move become more Does of kind how about this are this, how see customers start numbers? this impact think with how enough to growth? then

for one maybe then And Amy.

expansion Another business? points some seeing you indications there super Were guide, XXX give of additional from? Can in us the leverage that's the margin be of where coming operating impressive. you're basis that in of areas

Brian Millham

I appreciate First of all, the really you. Keith, thank question.

productivity, of to kind capabilities your In advantage in margins customers their all the question, but to to tremendous starts of nailed we're seeing drive efficiencies desire our business, and drive data. it. with it take higher AI with You

of an of out $XXX in Cloud numbers transformation their so that year-over-year. And ready the indicator saw put they my growing the should comments, XX% some put approaching for seeing company demand AI we This the we're want get to you be through. billion and people for that to Data

architecture great to customer great our that's really got seeing opportunity every we're I says, I've trap such about talk data. have I so we're a excited is performance cloud strategy. And the on My data products. ahead. off, But and don't data why

to see factored the happen. On going now we're show year. there's that be We further our start lot into work front, it I think AI to to guide don't have candid. because that -- so in fiscal out needs a right to just of much this up

Now next we the just for CoPilot enormous and to heavy. and a launched launch announcement tomorrow, faster we it at week we have go it, demand is is product And as here. opportunity as you'll see this yesterday's think massive demand

bit going big And that. to but factored it a little And talk of I'm to to about a flip lot here. so over a not upside, Amy in some

Amy Weaver

Sure.

already some product. And really not company, and time. a the we're from early. in. a we're material our revenue comments at guidance FY on AI, the still our in terms 'XX in up, So Cloud, great products which factored the gen certainly the contribution this Ryan, Data traction, of new size of it's as factoring as into just curve, new is seeing On scale following adoption In given this these $XX billion

op few as to seeing This amazing continuing a through from made discipline year, of call flow business. lot margin. A around the we we really really year to I year. year. just things out, Turning happy over the see on They're last commitment. XXX another a and of hard decisions the this would points many leverage headcount past Yes, are benefiting basis

point, it's this and to really AI, into in have talent leverage that that We high And cost-effective low to productive high, our doing really areas a grow areas cost. are but pools we're way, trying some at in areas, investing starting data. most

are pricing? in drive looking with we like on are in we efficiencies? doing We're been What has making at things and productivity. go-to-market doing also great and How product Brian this our year line. top of past changes terms

see all -- you'll changes those think areas. digital coming coming benefits I from of additional

Operator

comes from next Your Rangan Kash Goldman with question Sachs.

Kasthuri Rangan

across One to you, Amy. you business are dollars Data all reaccelerate company CEOs, What industries. of in as to their could about you spend the a of Cloud the right, real -- they breadth for with And propensity saying line? top talked Mark, if talked that through, and lot their comes Salesforce?

are confident talk those you they quantify lag indicators that is indicators. indicators leading sound leading show are much seem indicators? and the Qualitatively, those leading rebounding. We revenue? at a to how can't You least. in about What up And between there of can how

Marc Benioff

is this software Well, basically -- what Kash, every wants. company

a new You killer app. want

through innovation. you Sometimes it get can organic

Sometimes you innovation, with inorganic get it it got with done Data We've organic Cloud. We innovation. through lucky.

a Cloud different Data that think few is this everything for reasons. we I want at moment

up that platform. course, of we Salescloud First Service picked we've incredible Cloud of yes, to Tableau, what organic seen of also incredible do all, we clouds new cetera, this And inorganically, et these Cloud, when to but Slack, other can had it's to cloud. new add kind an cloud, Marketing and that for we Salesforce commerce,

Salesforce with what's ever difference the difference every cloud with makes happened between cloud this The cloud before, this other -- and better.

decades Cloud Sales exciting customers the Cloud new hottest hot, Cloud. the of feature new of Cloud, transform is of Cloud, Service Cloud been version version of and new Sales Cloud what's tens we the on out is last working that building X.X the Service So for we've plus the the Service in that to Sales Cloud, going thousands have Data Data there

marketing everything MQ. cloud. because and already so integrated data platform in what the And it's company, doing of you all Snowflakes -- -- with have We your else better I the in Shifts with if infrastructure through competitors BigQueries and because data and that with this extended in other completely users. product And vanquished the other with Gartner cloud your unleashes trap this is Red Marketing Cloud to of data this it's the deeply read made the data any it we're and all went the

have badly have data integrated But need with to lake in be of our if a another this greatest we have that itself. artificial transformation always we a where data. Yes, industry that we by compelling data data use not the all to is This ago. loved so lake, love years we would were reason -- would to cloud a Sales many Cloud with intelligence,

it Okay, we have that. more But have Yes, why is lake. important we now? right the data

repository, margins, have to when AI into data get for we is that productivity, have buy you must that deeply customer warehouse, has going they talked also but product this That relationships, the it the AI. the and the Nirvana are together. every see why businesses, if achieve about, trinity customer the can We we we integrated now working

our why incredible our do of to to can partners, like you. to one have This is an That Data hell all moment. is our This this thing, year. execute be needs to 'XX Cloud. We it. salespeople, the we message Fiscal to year is year of

Amy Weaver

indicators. Kash, question about thanks for Great. Okay. And leading the

heard excitement first, cloud. think you obviously about data I the

didn't... If you

Kasthuri Rangan

I again. can it through go

I'll it more time. it. have one do You

Amy Weaver

just looking that, a indicator. at I'm with Let's but start leading

that of are specifically, indicators not that number as tend we that good. there a be leading things to So be at look may things

about self-serve. some the I'm SMB, Now I about and very I've years. a feel seeing few like that create good things over now. But something do talked past would lot those closed, be right

that over to productivity, pipeline and up. led a growth. past team, X about and Brian the think improved execution We was forward. for is It we seen this really from the our is lot talked we've look that's fantastic. indications going that bookings our quarter. at quarters, It really AE last

through about time buying indicators nice as that talked we years said, ago. of environment expectations but That lagging I just system, our that of line give take include that from for couple work to to going our do the me began impact some the measured It's lot am a top seeing hope. a

Operator

with Your UBS. comes Keirstead next from Karl question

Karl Keirstead

bundling for. that and Okay. for I a a you One the Great. business mentioned X-parter of responsibility have Maybe Einstein think around is elements pricing Brian. and Two X. you

uplift typically that X% when this SI pro curious, but into down. that? also focus an consciously discretionary that that services a for this then on that anybody not needle the was on guide is a much of for pushing in inflection mover to be year? revenues? the area more tight spend? the Or Is our And down call, Just quarter you partners? happening obviously What's with work baking Salesforce are side, will How

Marc Benioff

Okay.

So that, all want before know and -- you ACV when before hit -- to you is. obviously, think you hit you you AI service, the we I but think what

think basically it's that I a we created. term

Brian, Now AOV you created CSM, it's industry-wide, that.

goals AI, This be everything ACV, have internally, This This of Einstein number. to bring it all focus the why SKU. to at AI to the you're A we is Look what call see this artificial is the we have this going obviously this data the we call we ACV at ACV intelligence, material okay? X, UE+. Einstein data important. intention. That's is Look our where X. material is part That cloud. needs together. cloud, huge that year, That X traction. Einstein is

happen. Of most But course, top huge sales. We for when online. Vegas. we did last brought of going a we X,XXX all got XX,XXX had we -- XX% don't executives, -- kickoff We know of our to really our what's week in

to message them. one have We

become X; the new Cloud, about number number #X five, things These incredible customer great year. a doing OHANA this success, four, are X stories, Data three, these UEs X.X number sell two. cloud, data Number #X deliver our we're storyteller the Einstein cell culture. AI,

it's deeply absolutely I So that we're when integrated that, you part and with Cloud. Brian? be Data think But think this AI, must everything doing. of

Brian Millham

Obviously, we're acceleration. progress some Marc. here. packaging. On certainly. the to example we're that, in year It's back of thing what only a to Good we're we Thanks, a Karl, did pricing is last question. benefits pricing about we've doing not increase and good Plus UE seeing made bundling, and seeing. excited the your price

We're we for SKUs, to our get it are sellers there. market, in out making fewer quotes the putting simplifying that way easier the

show see really to going not half in you're term, it short did the second last in materiality We of the of terms year. In up.

a growth And for lot so while our guide, not terms of factor there's numbers seen progress revenue it, year. great in a this we've year's huge and in this promise of

we're X year renewals, question. roll the of uplift, do. to it and start up On good A the et changes You incremental and pricing ProServe, will see as we in to cetera, some the X that going through show

I customers to bit These of think money. your transactions services transformation. massive a felt "I to saying, spend the and big on coming amount services to We significant make that that and and willingness customers' do pandemic really of felt headwinds been professional issue, very during large want services. and multiyear it's were us the industry, really across the to entire commitment a

apple. Now bite our at saying, take customers smaller the are me -- hey, bite a let

smaller time value to to faster. me Let start

the the me technology of sooner. get Let benefits

the smaller and And year that. that are the high, getting before while it's just transactions vis-a-vis so year demand remains last done

tough the large compares on smaller So transactions. deals,

a in good. of lot us, very For ways,

Let's out get our technology. customers proving the

but on impact go having services now. Let's our professional faster, an business right

Operator

Murphy Mark Your comes question with JPMorgan. next from

Mark Murphy

For efficiency the quarter. and Amy are quite metrics sales and this Brian, margin gross strong

less internally able food realize support from you're to productive or been from GPT able own just service for save to becoming own -- sales if champagne, with you agents have or sales more they standpoint own do dog more GPT are And suddenly your so benefit already? teams? of drinking just I'm customer I'm to deploying either curious time wondering your own or your your or eating a any

Brian Millham

Marc, thank you. Yes,

on big a We believer are sales on Salesforce.

our deploying are internally. own We AI technology

are seeing summaries base benefits now. are benefit Our it. our get to But actually has support to get sales with to using our of flow a tap the within the is -- in seen biggest we've in been work. knowledge knowledge ability we operation, teams Absolutely, case faster right surfaced

our augment sales even expansion our to in we is done our as how strategy in of that's into and and efficiencies in going which do own so in forward, leverage absolutely to well. the drive being AI work is margin marketing service more it our commerce And efforts part business and

drive excited well own about to those the there as efficiencies. future as we're leveraging So technology our

you Amy, that? know if else don't to I to have anything add

Amy Weaver

No.

I was Brian. that great, think

of and be we and opportunities customer excited Lots We I'm have to that are. #X for us. use it,

Operator

Evercore Your next ISI. Kirk Materne with question comes from

S. Kirk Materne

over fiscal of was just year. I realized every if of of a this due along on get know frankly, is advantage? one, domino could start taking effect farther there AI we but great kind advantage path? applicable to there, I don't One wants AI, terms in are be Marc that don't are But another, a the if could to industry. where Brian down Congrats to curious, competitive this they believe you or customer industries take any

Marc Benioff

this to future and anybody is question does We've the what many look, Peter good ago. mean a our decades is I Salesforce the happen? seen at Schwartz mean very going Minority movies. Report was It we I -- saw Games. A futurist, unknown. know by written really War

when that terminator, what's of Look, with to this Her scene our human is And know day, and whole the start the unfolding underway last really the time. Report The and agents all personalized going know remember future "Oh, we jeans experience. Minority sales is digital the eyes. future? Do all talking, a the And we've between happen? into store, is sales our at Tom end this all everything we the we the AI. highly Gap Cruise agents turns walks store got into

Cruise lineage, great just into brand, company, okay? to if that, store Francisco new amazing We right this yet great founders. products, with now You Gap I I fantastic, the him San scene. great know CEO, and But worked the need Gap, time." Listen, the at new into buy store jeans love go incredible, transformed the Mattel, great great company, but Tom has not the

Okay.

all customers. We the of something are verge for happening of our on huge

We We think to have to happen. driving be solution. This that. we is the going have

that. need know We also right guiding to values. all with We it the be

right the have to have core We values.

did picked I'm and this but that used last is ours, not in week, I rogue I the off technology, enough of which I these values. that not went value they we're not customer trust. this but you to woke script. of the company, script, on is that And use a company this are out our and When like, Internet. that kind in values a on AI that there which the I'm just the filters, saw The great went horrible, told putting Safety of focus AI seeing values story Summit, the some

are it, it false engineer their around and hobbled courts the holding Some just program, skewing loyalty liable. started hooked just and hallucinations them then up, it these and Good.

be our realize, and are up value. the wake must of we CEO trust the technology, greatest in one highest history every of but the transformations of Let on verge

quarter, why watch I And not Twitter my feeds. at of feed, the like that's results the But great feed, the the and video that with this for put you see Salesforce, I going also, is just on are the my just we hope but lead technology please at you to on top see. Twitter Twitter X-minute

delivering coming into This understand can and You trust-based we TrailerDx, with is truly a metadata. built are AI our what AI, enterprises important. for data on what's

Michael Spencer

Great. Thanks. Bernda, now. we'll take our question last

Operator

from final Deutsche Bank. question Brad Zelnick comes with Your

Brad Zelnick

Gartner's data brings data to from us and and that the great the metadata. Listen, the into taking the appreciate purpose see you architecture general Magic Marc, of cloud data Quadrant. recognition why the is together different platforms traction, And it I

cloud Einstein X-parter. on is question data And really UE customer price is Plus data it my take that? base can b, we X much point? that? viable then, take for you XX% are beyond is clear and apps, customer how today how to a list far higher But the And A, into of a customer-related it's penetrated and optimized

Marc Benioff

analysis. and he Spencer not has to going to and he do that IR, it doing a part, second the going the over to I'm do to because also runs run first turn been FP&A, Mike but Well, then he's only I'm

come going this. he on to was I So in know

us. huge number this Look, one, is upsell a opportunity for

say know, our that I wish Service XX% X Service users, Cloud users for XX% probably users Cloud. than not Cloud are is I Copa, all or Cloud. our think You script, ADP or Maya I even sales in decades. we've users more of with us, I could sales our service that who but even Sales users okay? use that service Not talked of user, use on even Sales about the worked of

call And time infrastructure. from I not yet Was sales I remember their the first us there, for extract service. Siebel a using made to

Data sell our platform, we them our whole a clouds with deeply customers upsell to and work platform of our Einstein with be to So rewriting customers the cross-sell and existing also have to into full to X, integrated. our existing we're do Cloud, with lot

separate We platforms. will no longer these have acquired all

funded, we also that integrated sure platform. have all This are something focused one done, make the is clear unified we're I which year in data platform, to Einstein and our must last of engineers and it it's to this on deeply One metadata X. When have is. financed be

will of companies we level. and some productivity this Look, then will then and And highest we where not the we level operate capability deliver the in That's at give user these you great light up the are. stories. success

Okay.

maybe where they okay, at model operate not level. are. the That's companies, Some also we

is success, data data are We Yes, a customer at company. about level. a no operate It's the We revolution. data This an by possible AI data. we're question. made revolution. There's

party You cannot all of data. have consumer That's could the data, the so AI have companies that they semblance those these tricks. without AI some why stole

it's to the For enterprise, going not fly.

we'll to got it to is go Mike, wrap informed comprehensive these by You've that are second the now the answer going sets ahead. part, metadata. And and have up. data Mike

Michael Spencer

thanks the Brad, for question.

the our provide. used way that plus, end to the the we're we're uplift be edition think is price limited about of really customers moving increased the going day, think about I because is X Einstein our about that get at price to the the addition to value to ability a to to value providing

are to now for on to but value. trying we're the at encouraged buy means going seeing. our by can ramp in feel X-plus And pretty seen. start to customers up be strong. abilities we've for signs by get end market them so it AI, as of It's will dictated it, that up ramp ability months be only the understand learnings good what the their 'XX, to it on about that. day, customers price we're what the We been we of as Early make our for economically, but But in and simple we're their progress FY to it's predicated as

Brian Millham

segments. to I for Starter, agree. We data offering us cloud and cloud in all And just levels able last we're be AI around one Salesforce in as data that you in and to where see deliver all it's at capabilities that. want part of AI building And our comment Brian.

every So base AI able be our enjoy Data and to power segment of customer should Cloud. the of

Unknown Executive

for We everyone for seeing the we joining look to the And thanks over Brent. weeks. call everyone So thank question, coming today. forward the

Marc Benioff

Thanks, all.

Operator

Thank call. conference for today's conclude you will us. This joining

now You may disconnect.

Salesforce (CRM) 28 Feb 242024 Q4 Earnings call transcript