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Salesforce.Com, Inc. (CRM) SEC Filing 10-Q Quarterly report for the period ending Friday, July 31, 2020

SEC Filings

Salesforce Com Inc

CIK: 1108524 Ticker: CRM
Exhibit 99.1
Evan Goldstein
Salesforce
Investor Relations
415-819-2987
evan.goldstein@salesforce.com

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


Salesforce Announces Strong Second Quarter Fiscal 2021 Results

Second Quarter Revenue of $5.15 Billion, up 29% Year-Over-Year, 29% in Constant Currency
Current Remaining Performance Obligation of Approximately $15.2 Billion, up 26% Year-Over-Year, 24% in Constant Currency
Raises FY21 Revenue Guidance to Approximately $20.7 Billion to $20.8 Billion, up Approximately 21% to 22% Year-Over-Year
Initiates Q3 FY21 Revenue Guidance of $5.24 Billion to $5.25 Billion, up Approximately 16% Year-Over-Year

SAN FRANCISCO, Calif. - August 25, 2020 -
Salesforce (NYSE: CRM), the global leader in CRM, today announced results for its fiscal second quarter ended July 31, 2020.

“It’s humbling to have had one of the best quarters in Salesforce’s history against the backdrop of multiple crises seriously affecting our communities around the world,” said Marc Benioff, Chair and CEO of Salesforce. “Salesforce was founded on our belief in stakeholder capitalism and our core values of trust, customer success, innovation and equality. Our success in the quarter brought all of this together with the power of our Customer 360 platform, the resilience of our business model, putting our customers first and doing our part to take care of all of our stakeholders. We know that together we have an opportunity to emerge from these times even stronger.”

Salesforce delivered the following results for its fiscal second quarter:

Revenue: Total second quarter revenue was $5.15 billion, an increase of 29% year-over-year, and 29% in constant currency. Subscription and support revenues for the quarter were $4.84 billion, an increase of 29% year-over-year. Professional services and other revenues for the quarter were $0.31 billion, an increase of 23% year-over-year.

Earnings per Share: Second quarter GAAP diluted earnings per share was $2.85, and non-GAAP diluted earnings per share was $1.44. Mark-to-market accounting of the company’s strategic investments, required by ASU 2016-01, benefited GAAP diluted earnings per share by $0.55 based on a U.S. tax rate of 25% and non-GAAP diluted earnings per share by $0.58 based on a non-GAAP tax rate of 22%. GAAP diluted earnings per share was also benefited by $2.17 as the company changed its international corporate structure, which included the consolidation of intangible property, resulting in a $2 billion net tax benefit related to foreign deferred tax assets. Please note that this had no impact on Non-GAAP diluted earnings per share, as the company utilizes a fixed long-term projected non-GAAP tax rate, which generally excludes effects for discrete events.

Cash: Cash generated from operations for the second quarter was $0.43 billion, a decrease of 2% year-over-year. Total cash, cash equivalents and marketable securities ended the second quarter at $9.28 billion.

Remaining Performance Obligation: Remaining performance obligation ended the second quarter at approximately $30.6 billion, an increase of 21% year-over-year. Current remaining performance obligation ended the second quarter at approximately $15.2 billion, an increase of 26% year-over-year, 24% in constant currency.




The following information was filed by Salesforce Com Inc (CRM) on Tuesday, August 25, 2020 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 (Intangible Assets Acquired) (Details)
Business Combinations (Narrative) (Details)
Business Combinations (Tables)
Debt
Debt (Tables)
Debt - Carrying Value Of Borrowings (Details)
Debt - Future Principal Payments (Details)
Debt - Narrative (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)
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 - Gains (Losses) On Strategic Investments, Net (Details)
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 (Details)
Leases And Other Commitments - Maturities Of Lease Liabilities (Details)
Legal Proceedings And Claims
Legal Proceedings And Claims (Details)
Net Income Per Share
Net Income Per Share (Tables)
Net Income Per Share - Reconciliation Of Denominator Used In Calculation Of Basic And Diluted Earnings Per Share (Details)
Net Income Per Share - Shares Excluded From Diluted Earnings Per Share (Details)
Other Balance Sheet Accounts
Other Balance Sheet Accounts (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)
Stockholder's Equity - Aggregate Stock Compensation (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Narrative (Details)
Stockholders' Equity - Schedule Of Restricted Stock Activity (Detail)
Stockholders' Equity - Stock Options Outstanding (Detail)
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)

Material Contracts, Statements, Certifications & more

Salesforce Com Inc provided additional information to their SEC Filing as exhibits

Ticker: CRM
CIK: 1108524
Form Type: 10-Q Quarterly Report
Accession Number: 0001108524-20-000041
Submitted to the SEC: Fri Aug 28 2020 7:59:20 AM EST
Accepted by the SEC: Fri Aug 28 2020
Period: Friday, July 31, 2020
Industry: Prepackaged Software

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