Salesforce, Inc. (CRM) Q4 2024 Earnings Call Summary
Feb 29, 2024 Company Transformation and Performance:
“We’ve had just an incredible quarter… strong performance across all of our key metrics.”
“It’s been an extraordinary year of transformation for Salesforce… total transformation of Salesforce and the total transformation of our industry.”
“We said we will restructure our business for the short and long term… we said we were going to double down on innovation… we’ve done that.”
Introduction of New Products and AI:
“When you see what’s coming in Trailhead DX next week, you’re not going to believe it… our next generation artificial intelligence… our copilot, but this data cloud… our fastest, most exciting new product ever.”
“The entire AI revolution is built on this foundation of data and it’s why we’re so excited about this incredible Data cloud.”
Financial Highlights and Guidance:
“We closed out fiscal year ’24 with $9.29 billion in revenue for the fourth quarter… up 11% year-over-year.”
“For the full year, we delivered $34.9 billion in revenue, up 11% year-over-year.”
“For fiscal year ’25, we expect free cash flow to grow between 23% to 26%… we’re guiding revenue to $38 billion at the high end of our range.”
Introduction of Dividend:
“I’m thrilled that we’re opening the door to another incredible part of our ongoing transformation today with the introduction of our first ever dividend.”
Product Development and AI Integration:
“Only Salesforce offers these critical layers of AI for our customers. The UI, the model and the deep integration of the data and the metadata.”
“Einstein Copilot… is the first conversational AI assistant for the enterprise that’s truly trusted… It can answer questions, summarize, create new content, dynamically automate tasks.”
Customer Success and AI Transformation:
“ADP discovered only Salesforce can do this… We were able to show ADP how we could unlock trap data with Data Cloud, drive intelligence, productivity, efficiency for their sales team with Einstein to levels unimagined just a year ago.”
Future Outlook and Excitement for AI:
“I’ve never been more excited about the future of Salesforce… the incredible door that has opened through artificial intelligence once again and the evolution of our entire technology platform.”