, inc. (NYSE:CRM) Q4 2017 Earnings Conference Call Transcript

Feb 28, 2018 • 05:00 pm ET

Previous, inc. (NYSE:CRM) Q4 2017 Earnings Conference Call Transcript


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Good afternoon. My name is Erica and I will be your conference operator today. At this time, I would like to welcome everyone to the CRM Q4 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions) Thank you.

Mr. John Cummings, you may begin your conference.

John Cummings

Thanks, Erica, and good afternoon, everyone, and thanks for joining us for our fiscal fourth quarter and full-year 2018 results conference call. Our results press release, SEC filings, and a replay of today's call can be found on our IR website at With me on the call today is Marc Benioff, Chairman and CEO; Keith Block, Vice Chairman, President and COO; Mark Hawkins, our President and CFO; also joining us -- with us today is Bret Taylor, our President and Chief Product Officer.

(Forward-Looking Cautionary Statements)

So with that, let me turn the call over to you, Marc.

Marc Benioff

Alright. Thank you so much. I really appreciate that, John, and I just want to congratulate our entire Company and all of our shareholders and investors on just what has been an outstanding Q4, and has really capped off just a truly record year for Salesforce.

This has also just been an outstanding quarter of growth. You can see that we have propelled Salesforce over $10 billion revenue milestone and we couldn't be more excited about that and having that fiscal year behind us because now our vision has never been bigger or more exciting as we have a very clear trajectory to $20 billion in revenue.

No other enterprise software company has achieved this scale faster, certainly, no other enterprise cloud applications company has achieved this scale faster, and it's our dream to get to $20 billion faster than anyone else. It's been a relentless focus on our customer success and not just customer, but also all of our community, all of our employees, our customers, our partners, all of our key stakeholders and the development of just an incredible culture that has allowed us to scale this organization and continue to strengthen our position as the world's number one CRM.

There's been incredibly strong demand and execution, especially this quarter, across every industry, across every region cloud, all customer segments, and as we get through these opening comments, I'm sure you'll agree this maybe, perhaps, our best quarter ever. We're on a path to exceed $20 billion faster than any other enterprise software company in history and we're all very proud of that. Salesforce is number one today in CRM, which is the fastest growing segment of the enterprise software industry.

Fiscal Year 2018 revenues finalized out at $10.48 billion, up 25%, and that 25%, obviously, dramatically above where we thought we were going to be when we first gave you a forecast more than a year ago, 24% in constant currency. We're delighted with that result. Q4 revenue of $2.85 billion, up 24% year-over-year, 21% in