賽富時 (CRM) 2022 Q2 法說會逐字稿

Welcome to the Salesforce's Fiscal 2022 Second Quarter Results Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded. (Operator Instructions)

歡迎參加 Salesforce 的 2022 財年第二季度業績電話會議。 （操作員說明）請注意，今天的會議正在錄製中。 （操作員說明）

I would like to hand over the conference to your speaker, Mr. Evan Goldstein, Senior Vice President of Investor Relations. Sir, you may begin.

我想將會議交給您的演講者，投資者關係高級副總裁 Evan Goldstein 先生。先生，您可以開始了。

Thank you, Mel. Hello, everyone, and thanks for joining us for our fiscal '22 second quarter conference call. I'm Evan Goldstein, Senior Vice President of Investor Relations.

謝謝你，梅爾。大家好，感謝您參加我們的 22 財年第二季度電話會議。我是投資者關係高級副總裁 Evan Goldstein。

Our results press release, SEC filings and a replay of today's call can be found on our IR website at www.salesforce.com/investor. With me on the call today is Marc Benioff, Chair and CEO; Amy Weaver, Chief Financial Officer; Bret Taylor, Chief Operating Officer; and Gavin Patterson, Chief Revenue Officer.

我們的業績新聞稿、SEC 文件和今天電話會議的重播可以在我們的投資者關係網站 www.salesforce.com/investor 上找到。今天與我通話的是主席兼首席執行官馬克·貝尼奧夫；艾米·韋弗，首席財務官；布雷特·泰勒，首席運營官；和首席營收官 Gavin Patterson。

As a reminder, our commentary today will primarily be in non-GAAP terms. Reconciliations between our GAAP and non-GAAP results and guidance can be found in our earnings press release.

提醒一下，我們今天的評論將主要採用非 GAAP 術語。我們的 GAAP 和非 GAAP 結果和指導之間的調節可以在我們的收益新聞稿中找到。

Some of our comments today may contain forward-looking statements that are subject to risks, uncertainties and assumptions. In particular, our expectations around the impact of COVID-19 pandemic on our business, acquisition, results of operations and financial condition and that of our customers and partners are uncertain and subject to change. Should any of these materialize or should our assumptions prove to be incorrect, actual company results could differ materially from these forward-looking statements. A description of these risks, uncertainties and assumptions and other factors that could affect our financial results is included in our SEC filings, including our most recent report on Form 10-K.

我們今天的一些評論可能包含受風險、不確定性和假設影響的前瞻性陳述。特別是，我們對 COVID-19 大流行對我們以及我們的客戶和合作夥伴的業務、收購、運營結果和財務狀況的影響的預期是不確定的，並且可能會發生變化。如果其中任何一項成為現實，或者我們的假設被證明不正確，公司的實際業績可能與這些前瞻性陳述大不相同。這些風險、不確定性和假設以及可能影響我們財務業績的其他因素的描述包含在我們提交給美國證券交易委員會的文件中，包括我們最近的 10-K 表格報告。

With that, let me hand the call to Marc.

有了這個，讓我把電話交給馬克。

Well, thank you, Evan. Appreciate it, and thanks, everyone, for being on the call today. I am actually here in Geneva, Switzerland with Gavin Patterson, our Chief Revenue Officer. And I'm attending the World Economic Forum's IBC meeting and Board of Trustees meeting, and it's been a great experience being here in Geneva. Very much the world is open for business here, and it's great to be meeting with our customers face-to-face and in person and discussing our business with them and talking about their businesses and how their businesses are doing in this new normal. And we're learning quite a bit about how different the U.S. is from Europe right now and also how much has really changed, which is quite a bit.

嗯，謝謝你，埃文。感謝它，並感謝大家今天參加電話會議。實際上，我和我們的首席營收官 Gavin Patterson 在瑞士日內瓦。我正在參加世界經濟論壇的 IBC 會議和董事會會議，在日內瓦的體驗非常棒。世界對這裡的業務非常開放，很高興與我們的客戶面對面和親自會面，與他們討論我們的業務，談論他們的業務以及他們的業務在這個新常態下的表現。我們正在了解很多關於美國現在與歐洲的不同之處以及真正發生了多少變化，這是相當多的。

So I'm absolutely excited to be here, but I'm also extremely excited to share our phenomenal second quarter results with you. You can really see we had a phenomenal second quarter. We just had a phenomenal second half. You're about to hear we're about to have a phenomenal first half as well. And we're also going to have a good chat about what we're doing with Slack, a very exciting acquisition that's now closed. And you are going to hear about #1 CRM just got better. And it's incredible what's going on with Slack, and looking forward to addressing all that with the -- in the script with you.

因此，我非常高興來到這裡，但我也非常高興與您分享我們驚人的第二季度業績。你真的可以看到我們第二季度的表現非常出色。我們剛剛經歷了驚人的下半場。你即將聽到我們也將有一個非凡的上半場。我們還將就我們與 Slack 所做的事情進行愉快的交談，這是一項非常令人興奮的收購，現已結束。你會聽到#1 CRM 變得更好了。 Slack 正在發生的事情令人難以置信，並期待與您一起在腳本中解決所有這些問題。

So look, we are in a new world. There's no doubt about that. I'm sure that all of us realize that, and we are delivering success from anywhere as well for Salesforce. We've gone through a tremendous transformation, and we're now delivering this new world for our stakeholders.

所以看，我們在一個新的世界。毫無疑問。我相信我們所有人都意識到了這一點，並且我們也在為 Salesforce 帶來成功。我們經歷了巨大的轉變，現在我們正在為我們的利益相關者提供這個新世界。

And from a business perspective, well, I'd say it's been an absolutely extraordinary 18 months for Salesforce, I know for all of you and certainly for all the CEOs I met with today. We're navigating this global pandemic. We have been guided by our core values of trust, of customer success, of innovation, of quality. But through all this and through our perseverance and through our, I think, dedication to our customers, we've been able to deliver record financial results. And with these results, we've now -- can say -- and looking over this, we've now had 5 outstanding quarters in a row really delivering the success from anywhere vision. Pretty awesome.

從商業的角度來看，我想說這對 Salesforce 來說絕對是非凡的 18 個月，我知道你們所有人，當然也包括我今天遇到的所有 CEO。我們正在應對這場全球流行病。我們一直以信任、客戶成功、創新和質量等核心價值觀為指導。但通過所有這一切，通過我們的毅力和我們對客戶的奉獻，我認為，我們已經能夠實現創紀錄的財務業績。有了這些結果，我們現在 - 可以說 - 回顧這一點，我們現在已經連續 5 個出色的季度真正實現了從任何願景中取得的成功。真棒。

So let's take a look now at the second quarter because the numbers are incredible. And you can see we delivered our first $6 billion quarter, about $6.3 billion, and continue to maintain our very strong growth rate, our profitability, our cash flow, our margin growth, continue to execute our new operating margin model. And you can see right now, revenue and the growth in the quarter, you can see $6.34 billion, up 23% year-over-year. Pretty awesome and above where we thought we were going to be, considerably above.

現在讓我們看看第二季度，因為這些數字令人難以置信。你可以看到我們第一個季度交付了 60 億美元，約 63 億美元，並繼續保持我們非常強勁的增長率、我們的盈利能力、我們的現金流、我們的利潤率增長，繼續執行我們新的運營利潤率模式。你現在可以看到，收入和本季度的增長，你可以看到 63.4 億美元，同比增長 23%。非常棒，超出了我們認為我們將要達到的水平，大大高於。

And I guess I'm -- as excited as I am about the revenue, I'm also very excited that as we're executing this new operating margin model, we can see the margin in the quarter was also a very healthy 20.4%, up 20 basis points year-over-year, and also delivered $386 million in operating cash flow.

我想我和我一樣對收入感到興奮，我也很興奮，因為我們正在執行這種新的營業利潤率模型，我們可以看到本季度的利潤率也是非常健康的 20.4% ，同比增長 20 個基點，還帶來了 3.86 億美元的經營現金流。

For fiscal year '22, we are raising again our guide to $26.3 billion, which is now at the high end of our range. It's a raise of $300 million, and it's going to represent about 24% projected growth year-over-year and just really reflects, I think, how well the company is doing in its core, not just through the Slack acquisition, but you can see organically, especially when you look at the numbers over the last 5 quarters. And we're raising our operating margin to 18.5%, up 80 basis points year-over-year. Again, based on just the outstanding performance of the company, we're able to do some amazing things here with the operating margin.

對於 22 財年，我們再次將我們的指引提高到 263 億美元，現在處於我們範圍的高端。這是一筆 3 億美元的融資，預計同比增長約 24%，我認為，這真的反映了公司在其核心方面的表現，不僅僅是通過收購 Slack，但你可以有機地看待，尤其是當您查看過去 5 個季度的數字時。我們將營業利潤率提高到 18.5%，同比增長 80 個基點。同樣，僅基於公司的出色表現，我們能夠在這里以營業利潤率做一些驚人的事情。

I don't think Salesforce has really ever been -- had better execution, better management team, greater momentum. And as I have spoken to so many customers today, I don't think we've ever been more well positioned for them. And I'll say that in 2 areas. One is in our core products, our focus on customer success, the Customer 360 now with the Slack user interface and everything being Slack first, but also our core values.

我認為 Salesforce 從來沒有真正做到過——擁有更好的執行力、更好的管理團隊、更大的發展勢頭。正如我今天與這麼多客戶交談過的那樣，我認為我們從未像現在這樣為他們做好準備。我會在兩個方面說。一個是我們的核心產品，我們對客戶成功的關注，現在帶有 Slack 用戶界面的 Customer 360 和一切都是 Slack 第一，也是我們的核心價值觀。

So many of our customers are attracted to us because, in many cases, they're going through an amazing values transformation and in the areas of -- that we've pioneered. And now especially in regards to sustainability, which we'll talk about because, as you know, Salesforce has been a net 0 company, but now we're fully renewable as well. And as we start to head towards the Fortune 100, I think that -- a lot of the companies that I met with today were mostly Fortune 100 CEOs. They crave to have that same net 0 and renewable profile, which is very exciting to see the world having this kind of sustainability focus.

我們吸引瞭如此多的客戶，因為在許多情況下，他們正在經歷驚人的價值觀轉變，並且在我們開創的領域。現在特別是關於可持續性，我們將討論這一點，因為如您所知，Salesforce 一直是淨 0 公司，但現在我們也完全可再生。當我們開始走向財富 100 強時，我認為 - 我今天遇到的很多公司大多是財富 100 強的 CEO。他們渴望擁有相同的淨 0 和可再生形象，看到世界擁有這種可持續發展的焦點，真是令人興奮。

So I'm absolutely thrilled to see how the core business grew in the first half of the year. And I am excited about the outlook. I'm excited about our positioning with our customers. And I'll tell you, I'm very excited that 5 out of the last 5 quarters that we've had that 20% or greater revenue growth. And 3 out of the last 5 quarters, we're having greater than 20% operating margin. I don't think we could have said either of those things 5 quarters ago. So my hat is really off to the management team and to the employees for making this happen. And we're raising our guidance for the fourth time in a row as we see increased opportunities for additional revenue growth and additional operating margin capability this year.

因此，我非常高興看到今年上半年核心業務如何增長。我對前景感到興奮。我對我們在客戶中的定位感到興奮。我會告訴你，我很高興過去 5 個季度中有 5 個季度實現了 20% 或更高的收入增長。在過去的 5 個季度中，有 3 個季度的營業利潤率超過 20%。我認為我們不可能在 5 個季度前說這些話。所以我真的很感謝管理團隊和員工讓這一切發生。我們連續第四次上調我們的指導，因為我們看到今年額外收入增長和額外營業利潤率能力的機會增加。

And look, we're the fastest-growing enterprise software company ever. You know that. You're tracking us. You see where the numbers are going. You can see what the trajectory is, the velocity of the company, both in revenue and margin. And now you can also see that no other software company of our size and scale is really performing at this level.

看，我們是有史以來發展最快的企業軟件公司。你知道的。你在跟踪我們。您會看到數字的去向。你可以看到軌跡是什麼，公司的速度，包括收入和利潤。現在您還可以看到，沒有其他像我們這樣規模和規模的軟件公司真正達到這個水平。

So we are really quite confident and remain on our path to generate $50 billion in revenue by fiscal year '26, which doesn't seem very far away from right now. And when we first gave that number, it didn't seem as -- it didn't -- it seems like it was so far away. Now it seems like, wow, this is going to happen.

因此，我們真的非常有信心，並繼續朝著 26 財年創造 500 億美元收入的道路前進，這似乎離現在不遠了。當我們第一次給出這個數字時，它看起來並不像 - 它沒有 - 似乎它離得太遠了。現在看來，哇，這會發生。

Excuse me, the line of Mr. Marc just got disconnected. We're trying to disconnect the line. Thank you.

打擾一下，馬克先生的電話剛剛斷線。我們正在嘗試斷開線路。謝謝你。

(technical difficulty)

（技術難度）

Well, I think we had a few technical difficulties with Marc there. This is Bret Taylor. I'm going to continue with the script. Thanks, Marc, for that amazing introduction and just a reflection on the momentum in the company right now.

好吧，我認為我們在那裡與 Marc 有一些技術上的困難。這是布雷特·泰勒。我將繼續編寫腳本。謝謝 Marc 的精彩介紹，這只是對公司目前發展勢頭的反映。

It really was just an incredible quarter. Our products are more relevant than ever, and I have never seen this kind of momentum in the business. And honestly, that's because CRM is more strategic now than it's ever been. Every digital transformation begins and ends with the customer. And that's why around the world, more and more companies are putting their trust in Salesforce to help them get back to growth. That's the agenda on every CEO's mind in Switzerland, and it's on the mind of every Board around the world.

這真的只是一個令人難以置信的季度。我們的產品比以往任何時候都更具相關性，我從未在業務中看到過這種勢頭。老實說，這是因為 CRM 現在比以往任何時候都更具戰略性。每一次數字化轉型都始於客戶，也始於客戶。這就是為什麼世界各地越來越多的公司信任 Salesforce 以幫助他們恢復增長。這是瑞士每位 CEO 的議程，也是全球每個董事會的議程。

IDC just released our April 2021 SaaSPath Vendor Rating. It's a survey of more than 2,000 companies worldwide, and Salesforce has rated #1 in trust, #1 in product, #1 in industry specialization and #1 in value for the price. That is just amazing. It's a true measure of just how mission-critical we are to our customers. And you can just see it in the incredibly strong performance of all of our clouds this quarter.

IDC 剛剛發布了我們 2021 年 4 月的 SaaSPath 供應商評級。這是對全球 2,000 多家公司的調查，Salesforce 在信任度、產品方面、行業專業度方面排名第一，在價格價值方面排名第一。這真是太神奇了。這是衡量我們對客戶的任務關鍵程度的真實衡量標準。您可以在本季度我們所有云的令人難以置信的強勁表現中看到這一點。

Sales Cloud has been #1 in its category for more than a decade. And this year, we've reimagined the product to be the growth platform for digital sales teams. We are already seeing the results as Sales Cloud accelerated to 15% growth year-over-year.

十多年來，Sales Cloud 一直是同類產品中的第一名。今年，我們將該產品重新構想為數字銷售團隊的成長平台。隨著 Sales Cloud 同比增長 15%，我們已經看到了結果。

Our Service Cloud is also seeing amazing momentum. All aspects of customer service has gone digital, from the contact center to field service to self-service and to bots. The scale of Service Cloud is just incredible. This is a $6 billion business whose growth has accelerated to 23% year-over-year.

我們的服務雲也看到了驚人的勢頭。從聯絡中心到現場服務，再到自助服務和機器人，客戶服務的各個方面都已實現數字化。 Service Cloud 的規模令人難以置信。這是一項價值 60 億美元的業務，其同比增長已加速至 23%。

Our Marketing and Commerce Cloud also grew 28% year-over-year as every organization in the world is investing in direct trusted relationship with our customers. And every one of these digital transformations is also a data transformation, which is driving the unprecedented success we're seeing in Tableau and MuleSoft. Tableau is in 9 of our top 10 deals this quarter, and MuleSoft was in 8 of our top 10 deals.

我們的營銷和商務雲也同比增長了 28%，因為世界上的每個組織都在投資與我們的客戶建立直接的信任關係。每一次數字化轉型也是一次數據轉型，這推動了我們在 Tableau 和 MuleSoft 中看到的空前成功。 Tableau 參與了本季度前 10 項交易中的 9 項，MuleSoft 參與了我們前 10 項交易中的 8 項。

The real power of Salesforce platform is bringing all of these capabilities together into a Customer 360, a Single Source of Truth for your customers. Our industry strategy is enabling our customers to get started with an end-to-end Customer 360 faster than ever before, tailored to the specific needs of every industry.

Salesforce 平台的真正強大之處在於將所有這些功能整合到 Customer 360 中，為您的客戶提供單一數據源。我們的行業戰略是讓我們的客戶能夠比以往更快地開始使用端到端的 Customer 360，為每個行業的特定需求量身定制。

Our Industry Cloud saw 58% year-over-year growth in annual recurring revenue. We had especially strong performance in the public sector, in our Health Cloud business and financial services. In fact, 4 of our top 10 deals in the second quarter came from the public sector.

我們的行業雲的年度經常性收入同比增長 58%。我們在公共部門、健康雲業務和金融服務方面的表現尤其出色。事實上，我們在第二季度的前 10 筆交易中有 4 筆來自公共部門。

Our core organic business has never been stronger, just like Marc said. And now with Slack, we're bringing a whole new dimension to Salesforce. There could not be a more relevant product at a more relevant time for every single one of our customers.

正如馬克所說，我們的核心有機業務從未如此強大。現在有了 Slack，我們為 Salesforce 帶來了一個全新的維度。對於我們的每一位客戶來說，在更相關的時間不可能有更相關的產品。

If you talk to any CEO, read the headline of any paper or even look around the home office most of you are sitting in right now, you can see the depth of the transformation work has gone through this year. Sales meetings have moved from conference rooms to Slack and to Zoom. Contact centers used to be buildings, and now they exist entirely in the cloud. My commute has moved from the highway to primarily my hallway.

如果您與任何一位 CEO 交談，閱讀任何報紙的標題，甚至環顧大多數人現在所在的家庭辦公室，您都會看到今年轉型工作的深度。銷售會議已從會議室轉移到 Slack 和 Zoom。聯絡中心曾經是建築物，現在它們完全存在於雲端。我的通勤路線已經從高速公路轉移到主要是我的走廊。

Slack is at the center of this. Slack is how organizations all around the world are finding success in this all-digital work anywhere world. It's your digital HQ. It connects your employees, your partners, your customers on a single platform and a platform that people love to use.

Slack 是其中的核心。 Slack 是世界各地的組織如何在世界各地的這種全數字化工作中取得成功的方式。這是您的數字總部。它將您的員工、合作夥伴、客戶連接在一個平台和人們喜歡使用的平台上。

And the Slack-First Customer 360 makes every Salesforce product more powerful and more effective for our customers. Our engineering teams have really hit the ground running on this integration. Just last week, we announced our Slack-First sales, service, marketing and analytics at our launch event. And we've got a ton of Slack innovation coming at Dreamforce.

Slack-First Customer 360 讓每個 Salesforce 產品對我們的客戶來說更強大、更有效。我們的工程團隊在此集成上確實取得了進展。就在上週，我們在發布會上宣布了我們的 Slack-First 銷售、服務、營銷和分析。 Dreamforce 帶來了大量的 Slack 創新。

IBM is one of my favorite examples of a Slack-First Customer 360 company. Arvind Krishna is a close friend of mine. And in talking to him, he talked about how he believes that bringing Salesforce and Slack together is key for IBM to become even more connected, even more productive and more innovative. IBM has built their entire Customer 360 on Salesforce. Over 530,000 customers, 380,000 employees and 50,000 partners using our platform. And all of these employees are working in Slack. They've connected their workflows across Sales Cloud, across Service Cloud and enables them to connect and take action from anywhere.

IBM 是我最喜歡的 Slack-First Customer 360 公司的例子之一。 Arvind Krishna 是我的好朋友。在與他交談時，他談到了他如何相信將 Salesforce 和 Slack 結合在一起是 IBM 變得更加互聯、更加高效和更具創新性的關鍵。 IBM 在 Salesforce 上構建了整個 Customer 360。超過 530,000 名客戶、380,000 名員工和 50,000 名合作夥伴使用我們的平台。所有這些員工都在 Slack 工作。他們已經跨 Sales Cloud、跨 Service Cloud 連接了他們的工作流，使他們能夠從任何地方連接並採取行動。

Slack comes up in every single one of my customer conversations, and I could not be more thrilled with the momentum in the business. Slack's revenue accelerated to 39% growth year-over-year on a stand-alone basis. And they have great customer wins at Target, Lowe's, Conde Nast, UNICEF, Norton Healthcare.

Slack 出現在我的每一次客戶對話中，我對業務的發展勢頭感到無比興奮。 Slack 的獨立收入同比增長 39%。他們在 Target、Lowe's、Conde Nast、UNICEF、Norton Healthcare 贏得了巨大的客戶青睞。

Now what's really fun about this is looking at the growth of Slack Connect. We've talked a lot about this. Slack Connect is the capability to enable you to connect not just with your fellow employees but to connect with your partners, with your vendors and your customers. Slack Connect grew 200% year-over-year. This really illustrates the power of not just Slack for employee engagement but the Slack-First Customer 360. Slack is a once-in-a-generation company that is transforming the way we work, and it's transforming the vision we have for our company over the next decade.

現在真正有趣的是觀察 Slack Connect 的發展。我們已經談了很多。 Slack Connect 能夠讓您不僅與同事聯繫，而且與您的合作夥伴、供應商和客戶聯繫。 Slack Connect 同比增長 200%。這確實說明了 Slack 不僅在員工敬業度方面的力量，而且 Slack-First Customer 360 的力量。Slack 是一家千載難逢的公司，它正在改變我們的工作方式，它正在改變我們對公司的願景下一個十年。

I am so grateful to be able to work with Stewart and the Slack team every day, and I'm really excited to bring this vision of the Slack-First Customer 360 to all of our customers.

我很高興能夠每天與 Stewart 和 Slack 團隊合作，我很高興能將 Slack-First Customer 360 的這一願景帶給我們所有的客戶。

And if the technology Gods will allow, I'd love to transfer it over to Gavin to talk about some of our customer wins for the quarter. Gavin, are you on?

如果技術大神允許，我很樂意將其轉交給 Gavin，以談論我們在本季度贏得的一些客戶。加文，你在嗎？

Hi, Bret. Can you hear me?

嗨，布雷特。你能聽到我嗎？

Yes. You sound great, Gavin. Go ahead.

是的。你聽起來很棒，加文。前進。

Very good. Well, thanks, Bret.

很好。嗯，謝謝，布雷特。

(technical difficulty)

（技術難度）

momentum we're seeing in the business. And you can see that really reflected in some of the remarkable customer wins we saw not just in the U.S. but around the world in the last quarter.

我們在業務中看到的勢頭。您可以看到，我們在上個季度不僅在美國而且在全球範圍內看到了一些非凡的客戶勝利，這確實反映了這一點。

But starting in the U.S., we saw our largest-ever deal based on new annual recurring revenue, which is in the public sector. And as Bret said, public sector has been fantastic for us in the second quarter. Other examples, we expanded relationships with great companies like PayPal and Coinbase. While in EMEA, we have significant wins behind with Belron, who own things like Safelite and Autoglass, Freshfields, Dyson, Vodafone and a cracking business, Canyon Bicycles, which is a really great case study. And then in APAC, we continue to deepen our relationships with many businesses, including things like Afterpay and FWD Thailand. So we're seeing strength internationally as well as in the U.S.

但從美國開始，我們看到了我們有史以來最大的一筆基於新的年度經常性收入的交易，這是在公共部門。正如布雷特所說，公共部門在第二季度對我們來說非常棒。其他例子，我們擴大了與 PayPal 和 Coinbase 等大公司的關係。在歐洲、中東和非洲地區，我們在 Belron 方面取得了重大勝利，Belron 擁有 Safelite 和 Autoglass、Freshfields、Dyson、Vodafone 和一家新興企業 Canyon Bicycles，這是一個非常好的案例研究。然後在亞太地區，我們繼續加深與許多企業的關係，包括 Afterpay 和 FWD Thailand 等。因此，我們在國際和美國都看到了實力。

Now a couple of examples I want to go into a little bit more detail on. One is a win with MillerKnoll. You might remember them more as Herman Miller, but it's a fantastic example, a company pivoting with great digital customer experience. So back at the start of the pandemic, MillerKnoll saw a huge spike in demand for their furniture, not surprisingly. Of course, they turned to Salesforce to transform their e-commerce experience in the quarter and are already seeing a significant improvement in conversion rates on the back of that. Since then, they've been providing an even better experience, tailored product recommendations, a streamlined checkout experience and next-generation video chat.

現在有幾個例子我想更詳細地介紹一下。一個是米勒諾爾的勝利。您可能更記得他們是 Herman Miller，但這是一個極好的例子，一家以出色的數字客戶體驗為中心的公司。因此，在大流行開始時，MillerKnoll 看到他們的家具需求激增，這並不奇怪。當然，他們在本季度轉向 Salesforce 來改變他們的電子商務體驗，並且已經看到轉化率有了顯著提高。從那時起，他們一直在提供更好的體驗、量身定制的產品推薦、簡化的結賬體驗和下一代視頻聊天。

And on top of that, MillerKnoll is a net 0 company. And they're now using Salesforce Sustainability Cloud to track their carbon footprint and other climate-related initiatives. So you can see it's a great example of how we're building partnerships, building multi-cloud solutions around the Customer 360, and we go from strength to strength.

最重要的是，MillerKnoll 是一家淨 0 公司。他們現在正在使用 Salesforce Sustainability Cloud 來跟踪他們的碳足跡和其他與氣候相關的計劃。因此，您可以看到這是一個很好的例子，說明我們如何建立合作夥伴關係，圍繞 Customer 360 構建多雲解決方案，我們不斷壯大。

I wanted to talk about RBC Wealth Management, which is another great win in the quarter. They're using the Customer 360 to streamline processes, integrate data from over 26 different systems to create a unified wealth management platform that provides advisers with a 360-degree view of every client. And I think that's something that really brings the Customer 360 to life for more than 2,100 RBC financial advisers.

我想談談 RBC 財富管理，這是本季度的又一重大勝利。他們使用 Customer 360 來簡化流程，整合來自超過 26 個不同系統的數據，以創建一個統一的財富管理平台，為顧問提供每個客戶的 360 度視圖。我認為這確實為 2,100 多名 RBC 財務顧問帶來了 Customer 360。

I think this example, to me, I think, is very powerful. They've been using Salesforce workflow automation to transform the client onboarding process, which was several weeks, more than 100 pages of physical documents, and it is now a digital task that takes just 24 minutes. And that is quite remarkable, I think.

我認為這個例子，對我來說，我認為，是非常有力的。他們一直在使用 Salesforce 工作流程自動化來改變客戶入職流程，該流程需要數週時間，需要 100 多頁的物理文檔，現在只需 24 分鐘即可完成數字化任務。我認為這非常了不起。

GEICO was a great win in the quarter. Needs no introduction, of course. But in case you don't know about GEICO, it is the second largest auto insurer in the U.S. And they're really leaning into the power of the 360, the Customer 360, to create a single view of their customers across the heart -- entire business and with now more than 25,000 agents, are going to be putting their trust in that Customer 360, which is now providing AI-powered analytics to improve those customer relationships.

GEICO 在本季度取得了巨大的勝利。當然不需要介紹。但如果你不了解 GEICO，它是美國第二大汽車保險公司。他們真的依靠 360 度的力量，即客戶 360 度，來創建他們客戶的單一視圖—— - 整個企業現在擁有超過 25,000 名座席，他們將信任 Customer 360，它現在提供 AI 支持的分析來改善這些客戶關係。

And 3M. Now this is one we've talked about in the past. You've heard Marc talk about how they've been using the Customer 360 across 83 countries. But that relationship continues to expand. Now 3M is using Trailhead to train thousands of customer-facing employees as they join the company. Salesforce Maps is now being used as part of their proposition. Tableau CRM is giving actual intelligence to better manage operations, engage with customers, boost productivity.

還有3M。這是我們過去討論過的一個。您已經聽過 Marc 談到他們如何在 83 個國家/地區使用 Customer 360。但這種關係繼續擴大。現在 3M 正在使用 Trailhead 培訓數千名面向客戶的員工加入公司。 Salesforce Maps 現在被用作他們提議的一部分。 Tableau CRM 提供實際智能，以更好地管理運營、與客戶互動、提高生產力。

And then in Q2, 3M selected our Philanthropy Cloud to help empower nearly 100,000 employees to give back to their communities with the goal of achieving 2 million employee volunteer hours over the next 5 years. I think that's a really, really powerful example.

然後在第二季度，3M 選擇了我們的 Philanthropy Cloud 來幫助近 100,000 名員工回饋社區，目標是在未來 5 年內實現 200 萬員工志願服務小時數。我認為這是一個非常非常有力的例子。

And then one more just before I hand over to Amy, and it's IKEA. So IKEA, fantastic business over here in Europe, another great example of the Customer 360. We've already been helping them with marketing. They've been getting great ROI with Market Cloud across over 30 markets. Now as home improvements were soaring in the pandemic, they turned to us to use Field Service to help schedule in-home planning business, installations, after-service support across the U.S. So another example of how we're building our relationships, adding clouds to existing customers, going increasingly into partnership-type relationships.

就在我交給艾米之前，還有一個，那就是宜家。所以宜家，歐洲這裡的出色業務，客戶 360 的另一個很好的例子。我們已經在幫助他們進行營銷。他們通過 Market Cloud 在 30 多個市場中獲得了巨大的投資回報。現在，隨著大流行中家庭裝修的飛速發展，他們求助於我們使用現場服務來幫助安排美國各地的家庭規劃業務、安裝和售後服務支持。所以另一個例子是我們如何建立我們的關係，添加雲對現有客戶，越來越多地進入合作夥伴關係。

So I think these are a few examples. There are many more, but they are all, I think, examples of how we're helping customers deliver success from wherever they are, from anywhere.

所以我認為這些只是幾個例子。還有更多，但我認為，它們都是我們如何幫助客戶隨時隨地取得成功的例子。

So net-net, my conversations with customers, I think, have given me great confidence not just in the demand for our products and services but I think in our ability to execute in the second half of the year. So it's both demand and execution. So I continue to see this being maintained going forward. There's a really strong demand environment across Salesforce in the second half. And I think Slack is really going to enhance that.

所以net-net，我認為，我與客戶的對話，不僅讓我對我們的產品和服務的需求充滿信心，而且對我們下半年的執行能力充滿信心。所以它既是需求也是執行。因此，我繼續看到這一點將繼續保持下去。下半年 Salesforce 的需求環境非常強勁。我認為 Slack 真的會加強這一點。

So just before I hand over to Amy, I'd just like to say a quick thank you to the amazing effort of the sales teams around the world. They've been able to adapt to a different way of working, a new normal. And in doing so, we've been able to continue to support our customers. And I'd like to thank them for that.

因此，就在我將工作交給 Amy 之前，我只想快速感謝全球銷售團隊所付出的驚人努力。他們已經能夠適應一種不同的工作方式，一種新的常態。在這樣做的過程中，我們能夠繼續為我們的客戶提供支持。我要感謝他們。

So Amy, over to you.

所以艾米，交給你了。

Great. Thank you, Gavin, and good afternoon, everyone. Q2 was another quarter of remarkable top and bottom line performance. We exceeded our top line expectations, achieving record levels of Q2 new business. We saw strong demand across all of our products, regions and customer sizes. And we were able to execute with discipline to drive higher operating income.

偉大的。謝謝你，加文，大家下午好。第二季度是又一個季度顯著的頂線和底線表現。我們超出了我們的最高預期，實現了第二季度新業務的創紀錄水平。我們看到我們所有產品、地區和客戶規模的強勁需求。我們能夠有紀律地執行以提高營業收入。

We also completed the acquisition of Slack Technologies on July 21, bringing yet another best-in-class asset into our Customer 360. We believe that Slack will play a critical role in the digital transformation of our customers as they reimagine the future of work in a digital-first work-from-anywhere environment. And that process is already underway with Slack's business accelerating into the close of the acquisition.

我們還於 7 月 21 日完成了對 Slack Technologies 的收購，為我們的 Customer 360 帶來了另一項一流資產。我們相信 Slack 將在我們的客戶重新構想未來工作的數字化轉型中發揮關鍵作用數字優先的隨時隨地工作環境。隨著 Slack 的業務加速到收購結束，這一過程已經在進行中。

In Q2, Slack's revenue grew 39% year-over-year on a stand-alone basis, which excludes any impact of purchase accounting. Slack also saw strong performance in customer acquisition, especially in the enterprise. The number of paid customers spending greater than $100,000 annually accelerated during the quarter, up 41%.

在第二季度，Slack 的獨立收入同比增長 39%，這不包括採購會計的任何影響。 Slack 在客戶獲取方面也表現出色，尤其是在企業方面。本季度每年花費超過 100,000 美元的付費客戶數量增加了 41%。

For the short period between the close of the deal and the end of our fiscal Q2, Slack's operating results were immaterial to our non-GAAP results, and they are included below the line in OIE. Slack is consequently excluded from our reported revenue and non-GAAP operating income. Where appropriate, we will call out Slack-specific impact on our Q2 results and our guidance.

在交易結束和我們第二財季結束之間的短時間內，Slack 的經營業績對我們的非 GAAP 業績並不重要，它們被納入 OIE 的線以下。因此，Slack 被排除在我們報告的收入和非公認會計準則營業收入之外。在適當的情況下，我們將指出 Slack 對我們第二季度業績和指導的特定影響。

As part of the acquisition, this quarter, we issued $8 billion of senior notes with a weighted average interest rate of 2.25% and weighted average maturity of 20 years. We were very pleased by the terms we've received on what we view as an inexpensive source of capital.

作為收購的一部分，本季度我們發行了 80 億美元的優先票據，加權平均利率為 2.25%，加權平均期限為 20 年。我們對收到的關於我們認為是廉價資金來源的條款感到非常高興。

In particular, I'd like to call attention to the strong reception of our $1 billion sustainability bond, which was our most oversubscribed note in the offering. And not only did we raise funds on favorable terms, but concurrent with our debt raise, S&P upgraded our credit rating to A+.

特別是，我想提請注意我們 10 億美元的可持續發展債券的熱烈反響，這是我們在此次發行中被超額認購最多的債券。我們不僅以優惠的條件籌集資金，而且在籌集債務的同時，標準普爾將我們的信用評級提升至 A+。

Now let me walk you through some of the results for Q2 fiscal '22, starting with top line commentary. Total revenue for the second quarter was $6.34 billion, up 23% year-over-year or 21% in constant currency. The strong new business pipeline that we've discussed the last few quarters enabled us to deliver these results as new business momentum continued to exceed our expectations.

現在讓我帶您了解 22 財年第二季度的一些結果，從頂線評論開始。第二季度總收入為 63.4 億美元，同比增長 23%，按固定匯率計算增長 21%。我們在過去幾個季度討論過的強大的新業務管道使我們能夠在新業務勢頭繼續超出我們預期的情況下交付這些結果。

A few key highlights. We saw acceleration in Sales Cloud with Q2 revenue of $1.5 billion or 15% year-over-year growth. Tableau and MuleSoft continued their momentum in enterprise deals as both saw their share of the company's top 10 deals increase. As Bret noted, Tableau was in 9 of the top 10 and MuleSoft in 8 of the top 10 deals this quarter. This is an incredible accomplishment and evidence of how strategic these acquisitions have become for our customers.

幾個關鍵亮點。我們看到銷售雲加速增長，第二季度收入達到 15 億美元，同比增長 15%。 Tableau 和 MuleSoft 在企業交易方面繼續保持勢頭，因為它們在公司前 10 名交易中的份額都有所增加。正如 Bret 指出的那樣，Tableau 在本季度前 10 名交易中的 9 項，MuleSoft 在本季度前 10 項交易中的 8 項。這是一項令人難以置信的成就，也證明了這些收購對我們的客戶而言具有多麼重要的戰略意義。

Public sector continues to be an area of strength, accounting for 4 of the top 10 deals this quarter. And again, this quarter, our 7-figure deals on average included more than 4.5 clouds. The number of 7-figure deals including 5 or more clouds grew by 29% year-over-year, showing continued momentum in our enterprise deals. And we continue to see strength in our international businesses, which accelerated sequentially, although we will note that EMEA and APAC growth benefited modestly from the integration of acquisitions into our billing practices.

公共部門仍然是一個優勢領域，佔本季度前 10 名交易中的 4 項。同樣，本季度，我們 7 位數的交易平均包括超過 4.5 個雲。包括 5 個或更多雲的 7 位數交易數量同比增長 29%，顯示我們企業交易的持續勢頭。我們繼續看到我們國際業務的實力，並連續加速，儘管我們會注意到歐洲、中東和非洲和亞太地區的增長適度受益於將收購整合到我們的計費實踐中。

We remain pleased with the progress on attrition with revenue attrition in Q2 between 8% and 8.5%, an improvement from last quarter's 9% to 9.5%. Attrition has continued to perform better than anticipated. As a reminder, our attrition rate is calculated based on trailing 12-month performance. And we have now lapped the second quarter of fiscal '21, which was impacted by the early days of the pandemic.

我們仍然對減員的進展感到滿意，第二季度的收入減員率為 8% 至 8.5%，比上一季度的 9% 至 9.5% 有所改善。減員的表現繼續好於預期。提醒一下，我們的流失率是根據過去 12 個月的表現計算得出的。我們現在已經結束了 21 財年的第二季度，該季度受到大流行初期的影響。

Our remaining performance obligation representing all future revenue under contract ended Q2 at approximately $36.2 billion, up 18% year-over-year. Current remaining performance obligation, or CRPO, which represents all future revenue under contract that is expected to be recognized as revenue in the next 12 months, was approximately $18.7 billion, up 23%, both year-over-year and in constant currency.

我們在第二季度結束時代表所有未來合同收入的剩餘履約義務約為 362 億美元，同比增長 18%。當前剩餘履約義務或 CRPO 代表預計將在未來 12 個月內確認為收入的所有未來合同收入，按固定匯率計算，同比增長 23% 約為 187 億美元。

Slack represents 4 points of growth, ahead of the 3 points we guided to last quarter due primarily to changes in our assumptions around purchase accounting.

Slack 代表 4 個增長點，高於我們上個季度指導的 3 個點，這主要是由於我們對採購會計的假設發生了變化。

Turning to operating margin. Q2 non-GAAP operating margin was 20.4%, benefiting from revenue outperformance, efficiencies from a work-from-anywhere world and a focus on disciplined spending. Salesforce recorded $45 million of transaction-related costs due to closing the Slack acquisition during the quarter.

轉向營業利潤率。第二季度非 GAAP 營業利潤率為 20.4%，這得益於收入表現出色、隨時隨地工作的效率以及對紀律支出的關注。由於本季度完成對 Slack 的收購，Salesforce 記錄了 4500 萬美元的交易相關成本。

Q2 GAAP EPS was $0.56 and non-GAAP EPS was $1.48. The outperformance in the quarter was primarily due to higher revenue and expense efficiencies as well as realized and unrealized gains on our strategic investment portfolio. These mark-to-market adjustments benefited GAAP EPS by approximately $0.42 and non-GAAP EPS by approximately $0.43.

第二季度 GAAP 每股收益為 0.56 美元，非 GAAP 每股收益為 1.48 美元。本季度的出色表現主要是由於更高的收入和費用效率以及我們戰略投資組合的已實現和未實現收益。這些按市值計價的調整使 GAAP 每股收益約 0.42 美元，非 GAAP 每股收益約 0.43 美元。

Turning to cash flow. Operating cash flow in the second quarter was $386 million, down 10% year-over-year. On a cash basis, Salesforce paid $43 million of transaction fees related to the Slack acquisition.

轉向現金流。第二季度經營現金流為 3.86 億美元，同比下降 10%。在現金基礎上，Salesforce 支付了與收購 Slack 相關的 4300 萬美元交易費用。

CapEx for quarter was $213 million, leading to free cash flow of $173 million, down 45% year-over-year. And as a reminder, we continue to expect cash flow seasonality to skew higher to Q1 and Q4. Slack's operating results had no impact to Q2 operating cash flow or CapEx.

本季度資本支出為 2.13 億美元，自由現金流為 1.73 億美元，同比下降 45%。提醒一下，我們繼續預計現金流的季節性將偏高至第一季度和第四季度。 Slack 的經營業績對第二季度的經營現金流或資本支出沒有影響。

Now turning to guidance. We expect Q3 revenue of $6.78 billion to $6.79 billion or approximately 25% growth year-over-year. This guidance assumes a $250 million contribution from Slack. For Q3, we expect to deliver CRPO growth of approximately 22%. This includes 4 points of growth from Slack. We expect Q3 GAAP EPS of negative $0.06 to negative $0.05 and non-GAAP EPS of $0.91 to $0.92.

現在轉向指導。我們預計第三季度收入為 67.8 億美元至 67.9 億美元，同比增長約 25%。本指南假設 Slack 提供 2.5 億美元的捐款。對於第三季度，我們預計 CRPO 將實現約 22% 的增長。這包括來自 Slack 的 4 個增長點。我們預計第三季度 GAAP EPS 為負 0.06 美元至負 0.05 美元，非 GAAP 每股收益為 0.91 美元至 0.92 美元。

Now moving to fiscal '22 guidance updates. As a result of our year-to-date performance and strong execution in the current demand environment, we are raising our fiscal '22 revenue guidance by $300 million to $26.2 billion to $26.3 billion or approximately 24% growth year-over-year. This guidance incorporates an expected revenue contribution of $530 million from Slack in the second half of fiscal '22, an increase of $30 million over our previous guide. This guidance also includes $200 million from Acumen, an increase of $10 million from our previous guide. Net of the revised Slack and Acumen contributions, this represents a $260 million raise on our core business. Our ability to execute in the demand environment both remain strong.

現在轉向 '22 財年指南更新。由於我們年初至今的表現和在當前需求環境中的強勁執行，我們將 22 財年的收入指導提高了 3 億美元，達到 262 億美元，達到 263 億美元，或同比增長約 24%。該指南包含 Slack 在 22 財年下半年的預期收入貢獻 5.3 億美元，比我們之前的指南增加了 3000 萬美元。該指南還包括來自 Acumen 的 2 億美元，比我們之前的指南增加了 1000 萬美元。扣除修訂後的 Slack 和 Acumen 貢獻，這意味著我們的核心業務增加了 2.6 億美元。我們在需求環境中的執行能力仍然很強。

We are also raising our fiscal '22 non-GAAP operating margin to 18.5%, representing an expansion of 80 basis points year-over-year. This now includes an expected 150 basis points headwind from Slack and Acumen or 10 basis points less headwind compared to our previous guidance. Excluding this 10 basis point adjustment, our operating margin guidance represents a 40 basis point raise compared to our previous guidance.

我們還將 22 財年非 GAAP 營業利潤率提高到 18.5%，同比增長 80 個基點。這現在包括來自 Slack 和 Acumen 的預期 150 個基點的逆風，或者與我們之前的指導相比減少 10 個基點的逆風。不包括這 10 個基點的調整，我們的營業利潤率指導比我們之前的指導提高了 40 個基點。

We are also raising fiscal '22 GAAP diluted EPS to $0.81 to $0.83 and raising our non-GAAP diluted EPS to $4.36 to $4.38. We expect recent M&A will be an approximately $0.51 headwind to non-GAAP diluted EPS.

我們還將 '22 財年 GAAP 攤薄每股收益提高至 0.81 美元至 0.83 美元，並將我們的非 GAAP 攤薄每股收益提高至 4.36 美元至 4.38 美元。我們預計最近的併購將對非公認會計原則攤薄後的每股收益構成約 0.51 美元的阻力。

Please recall that our OIE and EPS guidance assumes no further contribution from mark-to-market accounting as required by ASU 2016-01.

請記住，我們的 OIE 和 EPS 指南假定 ASU 2016-01 要求的按市值計價會計沒有進一步貢獻。

We are raising our fiscal '22 operating cash flow guidance by 2 points, now expecting 14% to 15% growth year-over-year. The increase from our previous guide is primarily driven by revenue performance and lower headwind from M&A. The dilutive cash flow impact of Slack and Acumen now represents a headwind to our year-over-year growth of approximately 7 points. Excluding the anticipated impact of M&A, operating cash flow growth would be 21% to 22%.

我們將 22 財年的運營現金流指導提高了 2 個百分點，現在預計同比增長 14% 至 15%。我們之前指南的增長主要是由於收入表現和併購帶來的不利影響。 Slack 和 Acumen 對現金流的稀釋性影響現在是我們同比增長約 7 個百分點的逆風。排除併購的預期影響，經營現金流增長將在 21% 到 22% 之間。

We continue to expect CapEx to be approximately 3% of revenue in fiscal '22, resulting in a free cash flow growth rate of approximately 15% to 16% for the fiscal year. Excluding the anticipated impact of M&A, as previously noted, this rate would be 22% to 23%.

我們繼續預計資本支出將佔 22 財年收入的約 3%，從而導致本財年的自由現金流增長率約為 15% 至 16%。如前所述，排除併購的預期影響，該比率將為 22% 至 23%。

To close, we remain excited by the strength we see in the demand environment, and we're seeing record levels of revenue and operating margin. Our flagship product in Sales Cloud saw acceleration this quarter. We closed our largest deal in customer history. We had an impressive first half of fiscal '22, and we're excited to continue Slack's momentum with the power of our 2 companies now together. And the increased revenue guidance reflects the confidence we have in the fundamentals of our business, and we remain well on our way to achieving our goal of $50 billion in fiscal '26. We are committed to being disciplined along the way while challenging ourselves to find additional areas of operational improvement.

最後，我們仍然對需求環境中的強勁表現感到興奮，並且我們看到創紀錄的收入和營業利潤率水平。我們在 Sales Cloud 中的旗艦產品在本季度實現了加速。我們完成了客戶歷史上最大的一筆交易。我們在 22 財年的上半年表現令人印象深刻，我們很高興能夠利用我們兩家公司的力量繼續 Slack 的發展勢頭。增加的收入指導反映了我們對業務基本面的信心，我們仍然在努力實現 26 財年 500 億美元的目標。我們致力於在此過程中遵守紀律，同時挑戰自己以尋找其他運營改進領域。

I want to say thank you to all of our employees for being able to focus on disciplined, efficient growth during the quarter. And we're looking forward to further strengthening the durability of our operating model going forward.

我要感謝我們所有的員工能夠在本季度專注於有紀律、高效的增長。我們期待著進一步加強我們未來運營模式的持久性。

And finally, I look forward to engaging with many of you at our upcoming Investor Day on September 23. I'll now turn the call back to Marc for some final comments.

最後，我期待在即將到來的 9 月 23 日投資者日與你們中的許多人交流。我現在將電話轉回給 Marc 以徵求一些最終意見。

All right. Well, thanks, Amy. Hopefully, I'm back here.

好的。嗯，謝謝，艾米。希望，我回到了這裡。

You are.

你是。

And I'm actually now talking through Amy's cell phone connected to our speakerphone in our conference room in San Francisco. So it turns out the cell phone technology is the big winner. So anyway, thanks, Amy. That was a great job on earnings, and congratulations on another great quarter of the organization, everything you're doing.

實際上，我現在正在通過 Amy 的手機與我們在舊金山會議室的免提電話通話。所以事實證明，手機技術是大贏家。所以無論如何，謝謝，艾米。這在收入方面做得很好，祝賀組織又一個偉大的季度，你所做的一切。

I couldn't be more excited about the strength of our core business, our revenue growth, our margin growth, our cash flow growth as well as the addition of Slack now to our team of unicorns, if you will. I mean it's absolutely true, the best CRM just got better with Slack. And I -- if you listened to what Bret has to say about the integration of incredible things like Slack Connect, these are becoming extensions to our CRM capabilities. So it's a very exciting moment for our entire product line and our technology team. And I think that with that, our leadership team has really shown through this amazing perseverance and execution over the last several quarters these amazing results.

如果您願意，我對我們核心業務的實力、我們的收入增長、我們的利潤增長、我們的現金流增長以及現在將 Slack 添加到我們的獨角獸團隊感到非常興奮。我的意思是，這絕對是真的，最好的 CRM 與 Slack 一起變得更好。我 - 如果你聽過 Bret 所說的關於 Slack Connect 等令人難以置信的東西的集成，這些正在成為我們 CRM 功能的擴展。因此，對於我們的整個產品線和我們的技術團隊來說，這是一個非常激動人心的時刻。我認為，在過去的幾個季度中，我們的領導團隊確實通過這種驚人的毅力和執行力展示了這些驚人的成果。

Now we're going to have our digital Dreamforce coming up in San Francisco in less than a month from September 21 through September 23. And we'll have tens of millions of customers from all over the world tuning in with us, and we'll have hundreds of customers with us live in San Francisco as well. So it's going to be extremely exciting. We want you all to have a front row seat. And please talk to Evan so you're all connected to this program. And we will also be redeploying our Dreamforce to You program as well, delivering custom Dreamforce capability for all of our customers. So I hope that you're all going to join us.

現在，從 9 月 21 日到 9 月 23 日，我們將在不到一個月的時間內在舊金山推出我們的數字 Dreamforce。我們將有來自世界各地的數千萬客戶與我們合作，我們我們還會有數百名客戶住在舊金山。所以這將是非常令人興奮的。我們希望你們都有一個前排座位。並且請與 Evan 交談，以便你們都與這個程序有聯繫。我們還將重新部署我們的 Dreamforce to You 計劃，為我們所有的客戶提供定制的 Dreamforce 功能。所以我希望你們都加入我們。

Okay. So as Amy mentioned, we're also looking forward to having you then at Investor Day. That will also be amazing, and we're expecting some awesome conversations with all of you.

好的。正如艾米所說，我們也期待在投資者日與您見面。這也將是驚人的，我們期待與你們所有人進行一些精彩的對話。

So with that, I'll open it up to questions. So everybody is online right now, and we can take all your questions. So go ahead, Evan.

因此，我將提出問題。所以現在每個人都在線，我們可以回答您的所有問題。所以繼續吧，埃文。

Operator, you can go ahead and open the call for questions.

接線員，您可以繼續打開問題電話。

(Operator Instructions) The first question comes from the line of Kirk Materne of Evercore.

（操作員說明）第一個問題來自 Evercore 的 Kirk Materne。

Bret, maybe I wanted to ask you one about Slack. In particular, now that the deal is closed, and I know you're very excited about it and the whole team is, what are you measuring to sort of judge success with Slack maybe beyond just sort of revenue growth or in terms of sort of number of customers that -- number of multi-cloud deals that include Slack? I guess what should we be looking for to see that the deal is progressing as planned and it is that sort of 1+1=7 combination that you guys are betting on?

布雷特，也許我想問你一個關於 Slack 的問題。特別是，既然交易已經完成，我知道你對此感到非常興奮，整個團隊都是，你衡量 Slack 成功的衡量標準可能不僅僅是收入增長或收入增長客戶數量——包括 Slack 在內的多雲交易數量？我想我們應該尋找什麼才能看到交易按計劃進行並且你們押注的是那種 1+1=7 的組合？

Yes. Thanks, Kirk. I think first and foremost, we're excited about this vision for the Slack-First Customer 360, and that's really building not only an integrated vision between Slack and our Customer 360 platform but also integrating our products. And actually, I think we've made a faster start integrating our technologies than any acquisition in our history.

是的。謝謝，柯克。我認為首先，我們對 Slack-First Customer 360 的願景感到興奮，這不僅在 Slack 和我們的 Customer 360 平台之間構建了一個集成願景，而且還集成了我們的產品。實際上，我認為我們整合技術的速度比我們歷史上的任何收購都要快。

We did an event last week on this idea of a digital HQ where we announced Slack-First Sales, things like deal rooms inside of Slack Connect integrated with Sales Cloud. Slack-First Service, which are things like case swarming for digital customer service teams, Slack-First Marketing and Slack-First Analytics. So those capabilities are going to be in the hands of our customers soon, and we have a lot more innovation coming at Dreamforce as well.

上週，我們就數字總部的想法舉辦了一場活動，我們宣布了 Slack-First Sales，例如 Slack Connect 內部的交易室與 Sales Cloud 集成。 Slack-First Service，例如數字客戶服務團隊的案例群、Slack-First Marketing 和 Slack-First Analytics。因此，這些功能很快就會掌握在我們的客戶手中，而且我們在 Dreamforce 也有更多的創新。

And with that, you asked what we're measuring, it's -- as you said, it's going to show up in things like multi-cloud deals that include Slack. It's also going to show up in a lot more departments and a lot more companies who are perhaps using these new digital collaboration technologies for the first time in the context of doing their job, in the context of customer service, in the context of sales, in the context of marketing and really realizing this vision of a digital HQ.

有了這個，你問我們正在衡量什麼，它是 - 正如你所說，它將出現在包括 Slack 在內的多雲交易中。它也將出現在更多的部門和更多的公司中，他們可能在工作、客戶服務、銷售方面首次使用這些新的數字協作技術，在營銷的背景下，真正實現數字總部的這一願景。

I think Marc has talked a lot about how we're in this new pandemic world that this isn't going away. We've opened half of our offices. But as you can imagine, not as many people are showing up as we had hoped to at this point because of this pandemic. I've started 2 companies and I started by planning my office space. And now if you're starting a company, you start by planning your digital HQ. And that's really what we want to bring to every company in the world, help them build the digital infrastructure to help them succeed in this new normal.

我認為馬克已經談了很多關於我們在這個新的大流行世界中的情況，而且這種情況不會消失。我們已經開設了一半的辦公室。但正如你可以想像的那樣，由於這種流行病，目前出現的人數並沒有我們希望的那麼多。我創辦了 2 家公司，並從規劃我的辦公空間開始。現在，如果您要創辦一家公司，您首先要規劃您的數字總部。這就是我們真正想帶給世界上每家公司的東西，幫助他們建立數字基礎設施，幫助他們在這個新常態中取得成功。

And one thing that I think we're really excited about that Marc also mentioned is Slack Connect, which is really bringing these digital tools outside of the walls of our customers' buildings and bringing them to partners and customers as well, and you've seen that in a lot of the product integrations we announced.

我認為我們對 Marc 還提到的一件事感到非常興奮的是 Slack Connect，它確實將這些數字工具帶到了我們客戶建築物的牆壁之外，並將它們也帶到了合作夥伴和客戶那裡，而且你已經在我們宣布的許多產品集成中都看到了這一點。

Next question comes from the line of Mark Murphy of JPMorgan.

下一個問題來自摩根大通的 Mark Murphy。

Congrats on a fantastic quarter. Gavin, we have heard that you're selling Slack by actually using it with customers in the selling process itself. Was wondering if you could help us visualize that. And is that something that's transforming the buying experience in a pretty profound way?

祝賀一個美妙的季度。 Gavin，我們聽說您在銷售 Slack 時實際上是在銷售過程中與客戶一起使用它。想知道您是否可以幫助我們將其可視化。這是否正在以一種非常深刻的方式改變購買體驗？

And just a quick one for Amy. It's fantastic to see the operating margins at 20% plus again consecutive quarters. Where are you identifying new efficiencies to try to create this trajectory on margins? Because it seems like it goes beyond the temporary COVID savings.

對艾米來說只是一個快速的。連續幾個季度看到營業利潤率超過 20% 真是太棒了。您在哪裡確定新的效率以嘗試在利潤上創建這種軌跡？因為它似乎超出了暫時的 COVID 節省。

Well, great question. And I'd just like to say I share Bret and Marc and Amy's excitement about the potential that Slack is going to bring to the Customer 360. Since we announced the deal 6 months ago, 9 months ago, obviously, we've been having conversations with customers about what we're planning to do, recognizing this needing to go through the DOJ process. And I have to say I -- Randy came across a product that has the buzz, the excitement, the customer advocacy that Slack does. It really is quite remarkable. So there's, I think, huge interest out there amongst customers. Many of our customers are both Salesforce customers and now Slack customers. So there's good overlap between the 2, and they can see the synergy that we're going to have from a product perspective.

好，好問題。我只想說，我與 Bret、Marc 和 Amy 一樣對 Slack 將為 Customer 360 帶來的潛力感到興奮。自從我們 6 個月前宣布交易以來，9 個月前，顯然，我們一直在與客戶就我們計劃做的事情進行對話，認識到這需要通過 DOJ 流程。而且我不得不說我——蘭迪遇到了一款像 Slack 一樣具有轟動、興奮和客戶擁護的產品。這真的很了不起。所以，我認為，客戶對此非常感興趣。我們的許多客戶既是 Salesforce 客戶，現在又是 Slack 客戶。所以兩者之間有很好的重疊，他們可以從產品的角度看到我們將擁有的協同作用。

We are beginning to sell through Slack. The most powerful presentation the sales teams give are often Salesforce-on-Salesforce. And so Slack-on-Slack is a very compelling way to explain how we use the product. And so we're beginning to do more and more of that. And where we are closing deals, we're leaning in to close deals through closing the deal itself on Slack, creating channels between us and the customer and ensuring that everybody who's working on the deal can have real-time access to those channels. And it means that the deals close much more quickly. So in fact, the Slack deal itself was closed on Slack. So that is the perfect example of Slack-on-Slack, I think. Amy?

我們開始通過 Slack 進行銷售。銷售團隊提供的最強大的演示通常是 Salesforce-on-Salesforce。因此，Slack-on-Slack 是一種非常引人注目的方式來解釋我們如何使用該產品。所以我們開始做越來越多的事情。在我們完成交易的地方，我們傾向於通過在 Slack 上完成交易本身來完成交易，在我們和客戶之間創建渠道，並確保參與交易的每個人都可以實時訪問這些渠道。這意味著交易完成得更快。所以事實上，Slack 交易本身就在 Slack 上完成了。所以這是 Slack-on-Slack 的完美例子，我認為。艾米？

Great. Thanks, Gavin. And you're right. We use Slack to negotiate, to do -- we conducted our due diligence, our negotiation and integration through Slack. So I do think that that's the ultimate example of a terrific sale all conducted with Slack and Slack Connect.

偉大的。謝謝，加文。你是對的。我們使用 Slack 進行談判，做——我們通過 Slack 進行了盡職調查、談判和整合。因此，我確實認為這是使用 Slack 和 Slack Connect 進行的出色銷售的最終示例。

So Mark, turning to your other question about operating margin. So where we have really seen this growing this year? First, we are gaining the benefit of very strong business performance in Q1 and Q2, and that does allow us room to provide profitability. And that's while still investing in growth and absorbing the impacts of M&A.

所以馬克，轉向你關於營業利潤率的另一個問題。那麼今年我們在哪裡真正看到了這種增長？首先，我們從第一季度和第二季度非常強勁的業務表現中受益，這確實為我們提供了盈利空間。與此同時，仍在投資增長並吸收併購的影響。

And second, we are continuing to build on what we learned during the pandemic about how we can work effectively in a digital-first or a hybrid environment. Some examples of that, virtual go-to-market motion, sales enablement, which is largely virtual at this point or digital, and also a renewed emphasis on financial automation, which I believe will pay off in the long run.

其次，我們將繼續在大流行期間學到的關於如何在數字優先或混合環境中有效工作的基礎上再接再厲。這方面的一些例子，虛擬上市運動，銷售支持，在這一點上主要是虛擬的或數字化的，以及對金融自動化的重新強調，我相信這將在長期內得到回報。

And then finally, it's simply an approach of disciplined decision-making. And when we're seeing investment opportunities, we're taking a very hard look. We are challenging ourselves, and we're finding ways to shift our operating model where necessary.

最後，這只是一種有紀律的決策方法。當我們看到投資機會時，我們會非常認真地看待。我們正在挑戰自己，我們正在尋找方法在必要時改變我們的運營模式。

We have the next question that comes from the line of Brad Sills of Bank of America Securities.

我們的下一個問題來自美國銀行證券公司的布拉德·希爾斯（Brad Sills）。

Great. Congratulations on a real nice Q2 result here. I wanted to ask another one on Slack but more focused on Slack plus Tableau. I mean with the combined offerings, you really have a powerful solution to not only see the data but act on the data. You highlighted this last week at the marketing event where you launched a number of these scenarios and activated notifications and watch lists were included. So I'm just curious about that concept of kind of Slack plus Tableau combined. What are you hearing from customers and the reception there? And could that actually accelerate these kind of cross-cloud Customer 360 deals?

偉大的。恭喜這裡獲得了非常好的第二季度結果。我想問另一個關於 Slack 但更關注 Slack 和 Tableau 的人。我的意思是，通過組合產品，您確實擁有了一個強大的解決方案，不僅可以查看數據，還可以根據數據採取行動。您在上週的營銷活動中強調了這一點，您在其中啟動了許多此類場景，並包括激活的通知和觀察列表。所以我只是對 Slack 和 Tableau 相結合的概念感到好奇。您從客戶和那裡的接待處聽到了什麼？這真的可以加速這類跨雲 Customer 360 交易嗎？

Yes. Thanks for the question. We're really excited about the combination of Slack and Tableau. And it sounds like you watched the event. But for other folks on the call who didn't we showed, I think, a really wonderful integration between Tableau and Slack. So your data can talk to you. Automated notifications so that when you need to take action on data, you're getting notified in Slack. You can collaborate with your colleagues to diagnose a business issue. Just an incredible combination. But I think it really shows just our philosophy on our M&A and why I think we've had really unprecedented success in the marketplace and integrating our acquisitions successfully.

是的。謝謝你的問題。我們對 Slack 和 Tableau 的結合感到非常興奮。聽起來你好像看了這個活動。但對於電話會議中沒有我們展示的其他人，我認為，Tableau 和 Slack 之間的集成非常出色。因此，您的數據可以與您對話。自動通知，以便當您需要對數據採取行動時，您會在 Slack 中收到通知。您可以與同事協作來診斷業務問題。簡直是不可思議的組合。但我認為它確實展示了我們的併購理念，以及為什麼我認為我們在市場上取得了前所未有的成功並成功整合了我們的收購。

We really try to integrate our platform. And with Tableau, with MuleSoft, with Slack, this all amplifies our vision for our Customer 360. At the center of all these digital transformations our customers are going through is data. You need to integrate that data with MuleSoft. You need to see and understand it with Tableau. And you need to act on that. And that's all going to happen with Slack, which is the system of engagement for the Customer 360 but also the system of engagement for every application at your company.

我們真的嘗試整合我們的平台。借助 Tableau、MuleSoft 和 Slack，這一切都擴大了我們對 Customer 360 的願景。我們的客戶正在經歷的所有這些數字化轉型的核心是數據。您需要將該數據與 MuleSoft 集成。您需要通過 Tableau 來查看和理解它。你需要採取行動。這一切都將通過 Slack 實現，它是 Customer 360 的參與系統，也是貴公司每個應用程序的參與系統。

So I think it's an incredibly powerful combination. And I actually think Slack has the potential to really accelerate every single product in the Customer 360, Tableau included. And Tableau, especially -- really, I think it has potential across the board. And then it really goes to just this fundamental shift in the workplace we're all experiencing. All of you are probably working from home right now -- or most of you are. This digital HQ is at the center of every single one of the transformations we're bringing to our customers.

所以我認為這是一個非常強大的組合。而且我實際上認為 Slack 有潛力真正加速 Customer 360 中的每一個產品，包括 Tableau。尤其是 Tableau——真的，我認為它具有全面的潛力。然後它真的是我們都在經歷的工作場所的這種根本性轉變。你們所有人現在可能都在家工作——或者你們中的大多數人都是。這個數字總部是我們為客戶帶來的每一項變革的中心。

Next question comes from the line of Kash Rangan of Goldman Sachs.

下一個問題來自高盛的 Kash Rangan。

It's Kash on. Congratulations. My question is of Amy and maybe a little bit for Gavin. Amy, how are you able to fund growth initiatives at the same time drive operating efficiencies? And Gavin, maybe you could shed some color on that as it pertains to the distribution side of the equation. How are you able to accomplish growth and efficiencies in terms of margins? Congratulations on a fantastic quarter.

是卡什了。恭喜。我的問題是關於 Amy 的，也許還有一點關於 Gavin 的問題。艾米，您如何能夠在為增長計劃提供資金的同時提高運營效率？加文，也許您可以對此進行一些說明，因為它與等式的分佈方面有關。您如何在利潤方面實現增長和效率？祝賀你度過了一個美妙的季度。

Great. Thanks, Kash. On operating margin, like I said, I think we have to be able to drive growth and increasing profitability at the same time. As I mentioned, we've been doing that this year through terrific business performance, through efficiencies, through the work-from-anywhere and as well as through discipline.

偉大的。謝謝，卡什。就像我說的那樣，在營業利潤率方面，我認為我們必須能夠同時推動增長和提高盈利能力。正如我所提到的，今年我們一直通過出色的業務表現、效率、隨時隨地的工作以及紀律來做到這一點。

And Marc talked about the new operating model. I actually like to think of it more as a new operating mindset. And it's a real focus on discipline and looking at what is going to make us a company that not just only gets us to $50 billion, that makes us a strong, durable company when we get there and positions us to sales through that. So these are multiple changes around the company, but I've been really gratified to see everyone jumping in. This has been really an effort from the entire executive leadership team.

馬克談到了新的運營模式。實際上，我更喜歡將其視為一種新的運營思維方式。這是對紀律的真正關注，並著眼於如何使我們成為一家不僅使我們獲得 500 億美元的公司，而且使我們成為一家強大、耐用的公司，當我們到達那裡並通過它定位我們的銷售時。所以這些是公司周圍的多重變化，但我真的很高興看到每個人都加入進來。這確實是整個執行領導團隊的努力。

I'll answer the second question there, Kash. So we've just come off our half year review in Laulima in Hawaii, where we've got our top 100 executives together in person and reviewed the last 6 months and looked ahead into the future. And I was really happy that I was able to share 2 fantastic quarters to start the year and really strong demand and really strong execution.

我將在那裡回答第二個問題，Kash。因此，我們剛剛結束了在夏威夷勞利馬的半年回顧，我們將前 100 位高管親自聚集在一起，回顧了過去 6 個月並展望了未來。我真的很高興我能夠分享 2 個精彩的季度開始今年，以及非常強勁的需求和非常強大的執行力。

And as I look into the second half of the year, I see that continuing. The pipeline is really strong. The conversations we're having with customers are accelerating, if anything. And so we chose to make the decision 3 months ago because we could see this demand in the marketplace. We chose to increase our investment in our direct sales force to get better coverage with customers. And that is a sign of our confidence in the business.

當我展望今年下半年時，我認為這種情況仍在繼續。管道真的很強大。我們與客戶的對話正在加速，如果有的話。所以我們選擇在 3 個月前做出決定，因為我們可以看到市場上的這種需求。我們選擇增加對直銷團隊的投資，以更好地覆蓋客戶。這表明我們對業務充滿信心。

So I feel very confident that we can continue to grow top line while delivering on expectations around operating margin. It isn't a trade-off. I think there's a balance that we can get between the 2, making sure we seize the opportunities in the marketplace. We're able to serve that demand we can see from customers, those multi-cloud deals that I was talking about earlier, while at the same time, ensuring that we benefit from -- benefit from scale, and we see that in the operating margin.

因此，我非常有信心，我們可以在實現營業利潤率預期的同時繼續增長收入。這不是一個權衡。我認為我們可以在兩者之間取得平衡，確保我們抓住市場機會。我們能夠滿足我們從客戶那裡看到的需求，我之前談到的那些多雲交易，同時確保我們從規模中受益——我們在運營中看到了這一點利潤。

And can you also add, what are you seeing in the selling motion versus the United States versus here in Europe?

您還可以補充一下，您在與美國與歐洲的拋售動議中看到了什麼？

Well, I think what looks common, Marc, is there is -- this is a conversation that's happening with the CEO now. So digital customer transformation is no longer something that is delegated down the organization. It's a conversation that's going on in the boardroom. It's a CEO priority. And that means we're getting, I think, bigger deals, more multi-trial deals, multiyear deals. And it's increasingly a conversation about the Customer 360.

好吧，馬克，我認為看起來很常見的是——這是現在與首席執行官進行的對話。因此，數字化客戶轉型不再是組織下放的事情。這是會議室裡正在進行的對話。這是 CEO 的首要任務。我認為，這意味著我們正在獲得更大的交易、更多的多試交易、多年交易。它越來越成為關於 Customer 360 的對話。

And the real focus is on time to value, which is good for us. We want as much -- we want our customers to be on standard products as much as possible. Configuring, yes. Customizing, not so much because there's so much innovation coming through and it's easier to do through staying on the standard path.

真正的重點是價值實現時間，這對我們有好處。我們希望盡可能多——我們希望我們的客戶盡可能多地使用標準產品。配置，是的。定制，不是因為有太多的創新，而且通過保持標準路徑更容易做到。

So it's -- either in the U.S. or in Europe, we're seeing our business grow across the board, both in terms of small customers on one end, the SMB market, all the way up to multinationals. We're seeing increasingly bigger deals. And we highlighted our biggest ever deal in terms of recurring revenue in this quarter. It's a public sector deal. But we're seeing more and more not just $1 million-plus deals but $10 million deals coming through the business. And I think that's a sign of, I think, the increasing importance of the Salesforce offer and what it means to businesses.

所以它 - 無論是在美國還是在歐洲，我們都看到我們的業務全面增長，無論是在一端的小客戶，SMB 市場，一直到跨國公司。我們看到越來越大的交易。我們強調了本季度經常性收入方面我們有史以來最大的一筆交易。這是公共部門的交易。但我們看到越來越多的不僅僅是超過 100 萬美元的交易，而是通過該業務獲得的 1000 萬美元的交易。我認為這表明 Salesforce 產品的重要性日益增加，以及它對企業的意義。

Next question comes from the line of Keith Weiss of Morgan Stanley.

下一個問題來自摩根士丹利的 Keith Weiss。

A really nice quarter and really a nice first half of the year. And I think this echoes comments from both Marc and Amy. I don't recall seeing this type of raise to the full year guide in terms of top line revenues, definitely not the type of raise to the operating margin guide historically, especially in the first half of the year. Maybe Gavin or Marc, you could talk to what are you guys seeing in the pipeline that's giving you the confidence to increase guidance in the first half of the year for the second half of the year already.

一個非常好的季度，也是今年上半年的一個非常好的季度。我認為這與 Marc 和 Amy 的評論相呼應。我不記得在頂線收入方面看到這種對全年指南的提高，絕對不是歷史上對營業利潤率指南的提高類型，尤其是在今年上半年。也許是加文或馬克，你可以談談你們在管道中看到的那些讓你有信心在今年下半年增加上半年的指導。

And maybe to Amy, when we see this operating margin expansion, is this durable, if you will, on a go-forward basis? And in particular, should we be thinking about T&E expenses or some of the kind of reflation of that OpEx line that might be being pushed out because of Delta variant or sort of a slower reopening pace into future years? Or is this margin expansion going to be more durable?

也許對艾米來說，當我們看到這種營業利潤率擴大時，如果你願意的話，這是否持久？特別是，我們是否應該考慮 T&E 費用或由於 Delta 變體或未來幾年重新開放速度較慢而可能推出的那種運營支出線的某種通貨膨脹？還是這種利潤率擴張會更加持久？

Yes. Let me take a swing at that. And so many of the CEO conversations that we're having -- and let me emphasize the ones I'm having in Europe. Number one, because of the Green New Deal that's happening here in Europe, every CEO here is focused on their net 0 transformation. And they realized that for them to continue to be successful in this environment, in this economy, they're having to make the net 0 transformation. And that's been very important to us. We've already made that transformation, and now we're fully renewable as well, as I mentioned.

是的。讓我來看看。我們正在進行的許多 CEO 對話——讓我強調一下我在歐洲進行的對話。第一，由於歐洲正在發生的綠色新政，這裡的每一位 CEO 都專注於他們的淨 0 轉型。他們意識到，要在這種環境中繼續取得成功，在這種經濟中，他們必須進行淨零轉型。這對我們來說非常重要。正如我所提到的，我們已經進行了這種轉變，現在我們也完全可以再生了。

The second thing is I think every CEO that I mentioned and talked to today and yesterday and probably in the conversations that I've had over the last several months are going through all types of supply chain challenges. I'm sure you're hearing that in your own checks with your clients, but that's been very surprising to me. And I would say that's the second CEO priority.

第二件事是，我認為我今天和昨天提到並與之交談的每一位首席執行官，可能在我過去幾個月的談話中，都在經歷各種類型的供應鏈挑戰。我敢肯定，您在自己與客戶的支票中聽到了這一點，但這讓我感到非常驚訝。我會說這是 CEO 的第二個優先事項。

And then I'd say the third CEO priority is exactly what we've been talking about here, which is success from anywhere in this new world. They realize their employees are not coming back exactly as they wanted. I have some stories about when we first started talking about success from anywhere, that employees would have a choice between office, home, maybe working in an environment like we had last week in Hawaii with our Laulima program or, as you know, we're building this new ranch. CEOs would call me and say, "Marc, you don't understand. Everybody is coming back. Everything is going back the way it is." And then it's over. And I think now those calls have stopped, and people realized things have really changed. This pandemic has changed things, and work has changed.

然後我想說，CEO 的第三個優先事項正是我們在這裡一直在談論的，即在這個新世界的任何地方取得成功。他們意識到他們的員工並沒有完全按照他們的意願回來。我有一些關於當我們第一次開始在任何地方談論成功時的故事，員工可以在辦公室、家庭之間做出選擇，也許是在我們上週在夏威夷使用我們的 Laulima 計劃的環境中工作，或者如你所知，我們重建這個新牧場。 CEO 會打電話給我說：“馬克，你不明白。每個人都回來了。一切都回到了原來的樣子。”然後就結束了。而且我認為現在這些電話已經停止，人們意識到事情確實發生了變化。這場流行病改變了一切，工作也發生了變化。

And when we talk about digital HQ, we might have been talking about digital HQ before the pandemic. But after the pandemic, it means something very different. And I think that what Bret said kind of on the fly there, which was very powerful, that he's obviously has been an incredible entrepreneur as well as an operating executive of several companies. But if he was starting a new company, he's not planning his physical office space. He's planning his digital office space. And we're running this call now on a cell phone and on Zoom. And it's a very much an example of success from anywhere.

當我們談論數字總部時，我們可能一直在談論大流行之前的數字總部。但在大流行之後，這意味著一些非常不同的東西。而且我認為布雷特在那裡所說的那種飛快，非常有力，他顯然是一位令人難以置信的企業家以及幾家公司的運營主管。但如果他正在創辦一家新公司，他並沒有計劃他的實體辦公空間。他正在規劃他的數字辦公空間。我們現在正在手機和 Zoom 上運行這個電話。這是一個非常成功的例子。

But every company has to make this transformation. And that is what is driving our success going forward. This is not a small transformation. This is not a small change. This is why we would pay $27 billion for Slack. We believe so strongly that the world has changed, that the past is gone, that we are in a new world. And yes, we may -- I don't think the Delta variant will be material to our business. If anything, it only accelerates it. And Delta is not the last -- the last one of these things that we're going to see. We're seeing a constant now parade of these variants going by. We started with Alpha. And I don't know how many letters there are in the Greek alphabet, but Delta is not the last letter. So we know that.

但每家公司都必須進行這種轉變。這就是推動我們取得成功的動力。這不是一個小的轉變。這不是一個小變化。這就是為什麼我們要為 Slack 支付 270 億美元的原因。我們堅信世界已經改變，過去已經過去，我們處於一個新的世界。是的，我們可能 - 我認為 Delta 變體不會對我們的業務產生重大影響。如果有的話，它只會加速它。 Delta 不是最後一個——我們將要看到的這些東西中的最後一個。我們現在看到這些變體不斷出現。我們從阿爾法開始。我不知道希臘字母表中有多少個字母，但 Delta 不是最後一個字母。所以我們知道。

In fact, here in Europe, if you haven't read about what happened with Lambda 2 weeks ago, you probably should. But in all of those things, we're looking to life has to go on, and it is. And if you were here with me today, you say, well, there's probably some risk to what's going on. There probably is. But I'm vaccinated. Gavin's vaccinated. And we're running our business. And that is really the power, and that is the future of what's going on. And I think that this is what we all have to kind of get our head around.

事實上，在歐洲這裡，如果您還沒有閱讀 Lambda 兩週前發生的事情，您可能應該閱讀。但在所有這些事情中，我們都希望生活必須繼續，而且確實如此。如果你今天和我在一起，你會說，嗯，發生的事情可能會有一些風險。大概有。但我接種了疫苗。加文接種了疫苗。我們正在經營我們的業務。這就是真正的力量，這就是正在發生的事情的未來。我認為這是我們所有人都必須了解的。

And I think in San Francisco, it's very different than how it is right here in Geneva, Switzerland, let me tell you. It's very, very different. I was in office buildings today. There's nobody in my office building right now. And also, people are not wearing masks in office buildings here. Everybody is supposed to wear a mask legally in San Francisco right now. So things are different. And this is what is amplifying us. So we're in a tremendous new world, and Salesforce has never been more positioned or well -- I would say Salesforce has never been better positioned for an economy and for a world. The first thing that I heard from Gavin was we're open for business, and this is where we're going. Do you want to add to that?

而且我認為在舊金山，它與瑞士日內瓦的情況非常不同，讓我告訴你。這是非常非常不同的。我今天在辦公樓裡。我的辦公樓裡現在沒有人。而且，在這裡的辦公樓裡，人們沒有戴口罩。現在每個人都應該在舊金山合法地戴口罩。所以情況有所不同。這就是放大我們的原因。因此，我們處於一個巨大的新世界中，而 Salesforce 的定位從未像現在這樣好——我想說 Salesforce 在經濟和世界方面的定位從未像現在這樣好。我從 Gavin 那裡聽到的第一件事是我們開始營業了，這就是我們要去的地方。你想補充嗎？

I want to talk a little bit about the pipe, Marc, and our confidence in it. And we've put a lot more focus on executional excellence, if you like, and grip on the operating metrics around the pipe going forward. So I have a great deal of confidence in what I can see. We spent a lot of time looking at how everybody in the sales organization is contributing through participation and through enablement, through productivity and really driving performance across each of the OUs. We flattened the structure so that we can move in a more agile manner and give more accountability to operating unit leaders.

我想談談煙斗，馬克，以及我們對它的信心。如果您願意，我們已經將更多的精力放在卓越執行上，並掌握未來管道周圍的運營指標。所以我對我能看到的東西很有信心。我們花了很多時間研究銷售組織中的每個人如何通過參與和支持、通過生產力和真正推動每個 OU 的績效做出貢獻。我們扁平化了結構，以便我們能夠以更靈活的方式行動，並賦予運營部門領導更多的責任。

And it's that focus on second and third order metrics around the sales operation. That means that I can have the confidence as I look forward into what we're going to deliver over the next not just 2 quarters, probably into next fiscal as well. I think it's a balanced pipe. So there's strength across the board. You can see it in our -- the numbers that we've released today. I see that going forward. All clouds are contributing. There isn't any weakness across that.

它關注的是圍繞銷售業務的二階和三階指標。這意味著我可以充滿信心，因為我期待著我們將在接下來的不僅僅是兩個季度，甚至可能在下一財年實現的目標。我認為這是一個平衡的管道。所以整體實力很強。您可以在我們今天發布的數字中看到它。我看到了這一點。所有的雲都在貢獻。這方面沒有任何弱點。

Amazing, isn't it?

很神奇，不是嗎？

Yes.

是的。

And I think it also speaks to what Bret said as well in terms of we've had a real focus with our acquisitions to make sure they're integrated, that we're selling a platform. We don't use the word suite at Salesforce. That hasn't been part of our nomenclature. But we have a very nice integrated platform, and we have a lot of very relevant products in today's world. This is kind of amazing, isn't it?

而且我認為這也說明了布雷特所說的，即我們真正專注於我們的收購，以確保它們被整合，我們正在銷售一個平台。我們在 Salesforce 不使用套件這個詞。這不是我們命名法的一部分。但是我們有一個非常好的集成平台，我們有很多當今世界非常相關的產品。這有點不可思議，不是嗎？

And geographically, just to finish with, there's, again, strength across the board. The U.S. consistently growing 20% plus in revenue. EMEA, 32% this quarter. APAC, 26%. So we're growing across the board, and growth internationally is not coming at the expense of growth in the U.S., and that's why we're posting these really strong numbers. And that strength in the core business, the core cloud is something that we've really...

從地理上講，最後，還有全面的實力。美國的收入持續增長 20% 以上。 EMEA，本季度為 32%。亞太地區，26%。因此，我們正在全面增長，國際增長並沒有以犧牲美國的增長為代價，這就是我們發布這些非常強勁的數字的原因。核心業務中的這種優勢，核心雲是我們真正......

And you've been able to -- and I think you may hit this point, Bret, as well, but this new operating margin model that we're executing, I think several of the -- several of our friends who have been asking questions have picked up on that we are operating at a different type of model here. We've had now 3 out of the last 5 quarters greater than 20%, and we have a lot of swagger when it comes to our operating margin.

而且你已經能夠 - 我認為你可能也達到了這一點，布雷特，但是我們正在執行的這種新的運營利潤率模型，我認為有幾個 - 我們的幾個朋友一直在問問題已經出現，我們在這裡使用不同類型的模型進行操作。在過去的 5 個季度中，我們現在有 3 個季度的增長率超過 20%，而且在營業利潤率方面，我們大搖大擺。

The pandemic led us kind of have a beginner's mind in regards to our entire business. And we made strategic decisions. We made tactical decisions, but we also made decisions at our core way that we're operating our business, and you can see that with these operating margin results. And also, I'm sure it will settle to everybody, but after doing one of the biggest acquisitions in our history, we also just raised our operating margin again and our guidance. So that is very exciting.

大流行使我們對整個業務產生了一種初學者的想法。我們做出了戰略決策。我們做出了戰術決策，但我們也以我們經營業務的核心方式做出了決策，您可以從這些營業利潤率結果中看到這一點。而且，我相信每個人都會得到解決，但是在進行了我們歷史上最大的收購之一之後，我們也剛剛再次提高了營業利潤率和指導。所以這非常令人興奮。

Amy, do you want to just add to that?

艾米，你想補充一下嗎？

Yes. Sure. Keith, to follow up kind of at the end of your question, as Marc said, we are in -- you said very powerfully, this is a new world. We are not going back to the pre-pandemic way of working. And we learned a lot during this period. We learned how we can work effectively from anywhere, how we can sell virtually. And when you look at what is durable, I would say discipline is durable. And we need to apply this discipline going forward and just show you quarter after quarter that we can execute.

是的。當然。基思，在你的問題結束時跟進，正如馬克所說，我們在——你非常有力地說，這是一個新世界。我們不會回到大流行前的工作方式。在此期間，我們學到了很多東西。我們學會瞭如何在任何地方有效地工作，如何進行虛擬銷售。當你看到什麼是持久的，我會說紀律是持久的。我們需要在未來應用這一原則，並一季度又一季度地向您展示我們可以執行的操作。

And I would just say that we switched to several very powerful values, operating values when the pandemic started. The management team understands it very well at Salesforce. But we wanted to make sure that we are relevant to our customers and that they understood our relevance. I don't think we've ever been more relevant.

我只想說，當大流行開始時，我們切換到了幾個非常強大的價值觀，即運營價值觀。 Salesforce 的管理團隊非常了解這一點。但我們想確保我們與客戶相關，並且他們了解我們的相關性。我認為我們從未如此相關。

We also realized we have a lot of people who are really scared during the pandemic and that we need to get them to be confident and that they could participate. And I think that's definitely happened. But we need to make sure that we are able to execute tactically and strategically, and to fully enable what you can see is an extremely large workforce, heading towards 100,000 people, we need to make sure those people are enabled and rolling and focused. And we've done that.

我們還意識到，在大流行期間，我們有很多人真的很害怕，我們需要讓他們有信心，讓他們能夠參與進來。我認為這肯定發生了。但是我們需要確保我們能夠在戰術上和戰略上執行，並且要完全啟用您所看到的極其龐大的勞動力，朝著 100,000 人前進，我們需要確保這些人能夠啟用、滾動和專注。我們已經做到了。

And I think in all of those things, the management team has executed. I'm very grateful to the management team and how well they've done. We've also gone through a lot of management transformation. I'm sitting here looking also at Mark Hawkins, who is our CFO Emeritus. Mark, thank you for everything that you've done for the company as well, and he's on the call here helping us and coaching us through and Evan. I look out at all of our -- Ohana and all of our employees for everything that -- everyone has been through. We have a lot of gratitude that we've been able to deliver this amazing moment. And this is not our last amazing moment. There are some more amazing moments coming, and very excited about the future.

我認為在所有這些事情中，管理團隊都執行了。我非常感謝管理團隊以及他們的表現。我們也經歷了很多管理轉型。我也坐在這裡看著馬克霍金斯，他是我們的名譽首席財務官。馬克，也感謝你為公司所做的一切，他在電話中幫助我們並指導我們完成和埃文。我看著我們所有的 - Ohana 和我們所有的員工 - 每個人都經歷過的一切。我們非常感謝我們能夠提供這個令人驚嘆的時刻。這不是我們最後一個令人驚嘆的時刻。還有一些更驚人的時刻即將到來，並對未來感到非常興奮。

So with that, I will turn it back over to you, Evan.

有了這個，我會把它還給你，埃文。

Thank you very much. We appreciate everyone joining the call today.

非常感謝你。我們感謝大家今天加入電話會議。

(inaudible)

（聽不清）

Well, we're continuing with some technical challenges. But thank you, guys, for joining the call today.

好吧，我們將繼續面臨一些技術挑戰。但是，謝謝你們今天加入電話會議。

If you have any questions, you can contact us at investor@salesforce.com, and we look forward to engaging with you at Dreamforce and at Investor Day. Thank you very much.

如果您有任何疑問，可以通過investor@salesforce.com 聯繫我們，我們期待在 Dreamforce 和投資者日與您交流。非常感謝你。

Thank you. That concludes today's conference call. Thank you all for participating. You may now disconnect.

謝謝你。今天的電話會議到此結束。謝謝大家的參與。您現在可以斷開連接。