Salesforce, Inc. (NYSE:CRM) Q2 2023 Earnings Call Transcript

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Marc Benioff: Well I couldn’t be more excited to have you on our new management team and kind of the evolution of our team here at Salesforce. And thank you for all the help that you’ve given us also in the last six months, especially with all of our investors. Michael?

Mike Spencer: Okay. Thanks, Brad. Emma we’ll take our last question now please.

Operator: Your question comes from Brent Thill with Jefferies. Your line is open.

Brent Thill: Marc, 12% CRPO growth the last two quarters. With AI building into the model, do you believe long-term you can reaccelerate this to a 15% to 20% growth business?

Marc Benioff: Well, I’ll tell you that’s certainly on my mind every single day. And you’re right, I’m a growth CEO. So that’s what I like to do. I like to grow. I mean that’s been about growing margins for the last six months, so that’s a reframe for me. But we’ve grown this business to these incredible revenue numbers this year, third largest software company in the world. And as we kind of head into these incredible next levels of capability, I’m very excited about the future. And there’s lots and lots of ways to move the top line forward. But I’ll tell you, now I am quite addicted to the bottom line as well. And also, as I said earlier, there’s nothing more important than the trust that I have with all of our stakeholders, including our investors.

So I want to make sure that we fulfill our commitments and promises to all of you, just as we have in the last three earnings calls, we’ve delivered exactly as we’ve told you we are going to do, and we’re going to continue to do that. At the same time, you know that I am thinking about how are we going to move this ball forward and down the field with these incredible opportunities in front of us. So it’s very much has to be a balanced equation to make this right, to make it right for us and to make it right for you, and I’d love to have that conversation in more depth in the next couple of weeks. As we all come to Dreamforce, I hope you’ll seek me out and find me and let’s have that conversation one-on-one, just as we have been having in the last six months.

I want to do what I’ve been doing for the last couple of quarters, which is to express my sincere gratitude to all of you and our investors have been a critical part you’ve had key insights, many of which we did not have ourselves on things that we could do to make us an even stronger company. And we’ve done that, I’m sure you can see that in the numbers. There’s never been a software company quite like this at this level even now as we start to cross into these incredible numbers in the mid-$30 billion numbers, the strength of the company has never been higher, and now we have this incredible opportunity with AI ahead.

Mike Spencer: Thanks, Brent, and thanks, everyone, for joining us today. We look forward to seeing everyone hopefully at Dreamforce in a few weeks.

Operator: This concludes today’s conference call. You may now disconnect.

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