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Salesforce.Com, Inc. (CRM) SEC Filing 10-Q Quarterly report for the period ending Wednesday, July 31, 2019

Salesforce Com Inc

CIK: 1108524 Ticker: CRM
Exhibit 99.1

John Cummings
Salesforce
Investor Relations
415-778-4188
jcummings@salesforce.com

Gina Sheibley
Salesforce
Public Relations
917-297-8988
gsheibley@salesforce.com


Salesforce Announces Record Second Quarter Fiscal 2020 Results
Raises FY20 Revenue Guidance to $16.75 Billion to $16.90 Billion

Second Quarter Revenue of $4.0 Billion, up 22% Year-Over-Year, 23% in Constant Currency
Current Remaining Performance Obligation of Approximately $12.1 Billion, up 23% Year-Over-Year, 25% in Constant Currency
Remaining Performance Obligation of Approximately $25.3 Billion, up 20% Year-Over-Year
Initiates Q3 FY20 Revenue Guidance of $4.44 Billion to $4.45 Billion, up 31% Year-Over-Year
Initiates Q3 FY20 Current Remaining Performance Obligation Guidance of 24% to 25% Year-Over-Year

SAN FRANCISCO, Calif. - Aug. 22, 2019 - Salesforce (NYSE: CRM), the global leader in CRM, today announced results for its fiscal second quarter ended July 31, 2019.

"Following an outstanding quarter, we’re raising our FY20 revenue guidance to $16.9 billion at the high-end of the range," said Marc Benioff, Chairman & co-CEO, Salesforce. "With our Customer 360 vision, Einstein AI and the millions of Trailblazers innovating on our platform, Salesforce has never been better positioned for the future."

"An enormous wave of digital transformation is sweeping across every industry, and major brands, like FedEx, AXA and Unicredit, turned to Salesforce in the quarter to propel their growth," said Keith Block, co-CEO, Salesforce. "The trust our customers have in us to drive their digital transformations is reflected in our strong quarterly results across our clouds and regions."

Salesforce delivered the following results for its fiscal second quarter:

Revenue: Total second quarter revenue was $4.0 billion, an increase of 22% year-over-year, and 23% in constant currency. Subscription and support revenues were $3.75 billion, an increase of 22% year-over-year. Professional services and other revenues were $252 million, an increase of 14% year-over-year.

Earnings per Share: Second quarter GAAP diluted earnings per share was $0.11, and non-GAAP diluted earnings per share was $0.66. GAAP and non-GAAP diluted earnings per share were negatively impacted by the loss on the settlement of the Salesforce.org reseller agreement by $0.16. Mark-to-market accounting of the company’s strategic investments, required by ASU 2016-01, benefited GAAP diluted earnings per share by $0.10 based on the US tax rate of 25% and non-GAAP diluted earnings per share by $0.11 based on a non-GAAP tax rate of 22.5%.

Cash: Cash generated from operations for the second quarter was $436 million, a decrease of 5% year-over-year. Total cash, cash equivalents and marketable securities ended the second quarter at $6.04 billion.

Remaining Performance Obligation: Remaining performance obligation ended the second quarter at approximately $25.3 billion, an increase of 20% year-over-year. This includes approximately $350 million related to the business combination with Salesforce.org. Current remaining performance obligation ended the second quarter at approximately $12.1 billion, an increase of 23% year-over-year, 25% in constant currency.





The following information was filed by Salesforce Com Inc (CRM) on Thursday, August 22, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Salesforce Com Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Operations (Parenthetical)
Condensed Consolidated Statements Of Stockholders??? Equity
Business Combinations
Business Combinations (Consideration Transferred) (Details)
Business Combinations (Estimated Fair Values Of Assets Acquired And Liabilities Assumed) (Details)
Business Combinations (Narrative) (Details)
Business Combinations (Tables)
Debt
Debt (Tables)
Debt - Carrying Value Of Borrowings (Details)
Debt - Future Principal Payments (Details)
Debt - Revolving Credit Facility (Details)
Debt - Schedule Of Interest Expense (Detail)
Derivatives
Derivatives (Tables)
Derivatives - Effect Of Derivative Instruments Not Designated As Hedging Instruments On Condensed Consolidated Statements Of Operations (Detail)
Derivatives - Fair Value Of Outstanding Derivative Instruments (Detail)
Derivatives - Schedule Of Outstanding Foreign Currency Derivative Contracts Related Primarily To Intercompany Receivables And Payables (Detail)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Reconciliation Of Denominator Used In Calculation Of Basic And Diluted Loss Per Share (Detail)
Earnings Per Share - Shares Excluded From Diluted Earnings Or Loss Per Share (Detail)
Fair Value Measurement
Fair Value Measurement (Detail)
Fair Value Measurement (Tables)
Income Taxes
Income Taxes (Details)
Intangible Assets Acquired Through Business Combinations And Goodwill
Intangible Assets Acquired Through Business Combinations And Goodwill (Expected Future Amortization Expense For Purchased Intangible Assets) (Details)
Intangible Assets Acquired Through Business Combinations And Goodwill (Goodwill) (Details)
Intangible Assets Acquired Through Business Combinations And Goodwill (Intangible Assets Acquired From Business Combinations) (Details)
Intangible Assets Acquired Through Business Combinations And Goodwill (Tables)
Investments
Investments (Tables)
Investments - Schedule Of Components Of Investment Income (Detail)
Investments - Schedule Of Marketable Securities (Detail)
Investments - Schedule Of Marketable Securities In Unrealized Loss Position (Detail)
Investments - Schedule Of Short-Term And Long-Term Marketable Securities (Detail)
Investments - Schedule Of Strategic Investments (Detail)
Leases And Other Commitments
Leases And Other Commitments (Tables)
Leases And Other Commitments - Additional Information (Detail)
Leases And Other Commitments - Balance Sheet And Other Information Related To Leases (Details)
Leases And Other Commitments - Components Of Lease Expense And Supplemental Cash Flow Information (Details)
Leases And Other Commitments - Maturities Of Lease Liabilities (Details)
Legal Proceedings And Claims
Legal Proceedings And Claims (Details)
Related-Party Transactions
Related-Party Transactions (Details)
Revenues
Revenues (Tables)
Revenues - Contract Balances, Unearned Revenue And Remaining Performance Obligation (Details)
Revenues - Disaggregation Of Revenue (Detail)
Revenues - Remaining Performance Obligation (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Narrative (Details)
Stockholders' Equity - Schedule Of Restricted Stock Activity (Detail)
Stockholders' Equity - Stock Options Outstanding (Detail)
Subsequent Events
Subsequent Events (Details)
Summary Of Business And Significant Accounting Policies
Summary Of Business And Significant Accounting Policies (Policies)
Summary Of Business And Significant Accounting Policies (Tables)
Summary Of Business And Significant Accounting Policies - Narrative (Detail)
Summary Of Business And Significant Accounting Policies - Schedule Of Property And Equipment Estimated Useful Lives (Detail)
Ticker: CRM
CIK: 1108524
Form Type: 10-Q Quarterly Report
Accession Number: 0001108524-19-000052
Submitted to the SEC: Fri Aug 23 2019 12:38:05 PM EST
Accepted by the SEC: Fri Aug 23 2019
Period: Wednesday, July 31, 2019
Industry: Prepackaged Software

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