賽富時 (CRM) 2022 Q1 法說會逐字稿

Welcome to Salesforce's Fiscal 2022 First Quarter Results Conference Call.

歡迎參加 Salesforce 2022 財年第一季度業績電話會議。

(Operator Instructions) Please be advised that today's conference is being recorded. (Operator Instructions) I would like to hand the conference over to your speaker, Mr. Evan Goldstein, Senior Vice President of Investor Relations. Sir, you may begin.

（操作員說明）請注意，今天的會議正在錄製中。 （操作員說明）我想將會議交給您的發言人，投資者關係高級副總裁 Evan Goldstein 先生。先生，您可以開始了。

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

謝謝你，尚塔爾。大家好，感謝您參加我們的 22 財年第一季度電話會議。我是投資者關係高級副總裁 Evan Goldstein。

Our 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, President and CFO; Bret Taylor, President and COO; and Gavin Patterson, President and Chief Revenue Officer.

我們的新聞稿、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； Amy Weaver，總裁兼首席財務官； Bret Taylor，總裁兼首席運營官；以及總裁兼首席營收官 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 the COVID-19 pandemic on our business, acquisitions, 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 大流行對我們的業務、收購、經營業績和財務狀況以及我們的客戶和合作夥伴的影響的預期是不確定的，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 so much, Evan, and thank you for everyone on being on the call today. I mean it's just going to be a great call. I'll tell you this is the best quarter Salesforce has ever had. It was just a phenomenal Q1 and everyone is so excited to do this call with you and to talk about it and also just to talk about so many of the things that are important to Salesforce because everyone knows business is the greatest platform for change. We do believe that you can do well and do good at the same time.

嗯，非常感謝你，埃文，感謝大家今天參加電話會議。我的意思是這將是一個很棒的電話。我會告訴你，這是 Salesforce 有史以來最好的一個季度。這只是一個非凡的第一季度，每個人都非常高興能與您進行這次電話會議並談論它，也只是談論對 Salesforce 很重要的許多事情，因為每個人都知道業務是變革的最佳平台。我們相信您可以同時做好事並做好事。

And before we go into these incredible results, we just want to let everybody know that our hearts and prayers are with all of our Ohana in India. They're on our mind every day, and we're so sorry for everything that they are going through.

在我們取得這些令人難以置信的結果之前，我們只想讓每個人都知道，我們的心和祈禱與我們在印度的所有 Ohana 同在。他們每天都在我們的腦海中，我們為他們所經歷的一切感到抱歉。

So I am now here with Amy and Bret and Gavin and Evan as well, and I'll just tell you that we're all vaccinated. We're grateful that we can be together. We're grateful that we are in a moment where we've been able to do that. We just finished a 2-day off-site with our top managers from around the world. We -- this is our third off-site we've done. We've done about 8 total management off-sites and through the miracle of testing and now through the miracle of vaccinations and the ability to get back into business and be in person, we're just grateful for that. We definitely are missing each other, and it's been great to be able to run our business in person and to open our offices.

所以我現在也和艾米、布雷特、加文和埃文一起在這裡，我只想告訴你，我們都接種了疫苗。我們很感激我們可以在一起。我們很感激我們正處於能夠做到這一點的時刻。我們剛剛與來自世界各地的高級管理人員進行了為期 2 天的異地活動。我們——這是我們完成的第三次場外活動。我們已經完成了大約 8 次異地管理，通過奇蹟般的測試，現在通過奇蹟般的疫苗接種以及重返業務和麵對面的能力，我們對此心存感激。我們確實很想念彼此，能夠親自經營我們的業務並開設我們的辦公室真是太好了。

Amy and I were in our offices on Monday in San Francisco, together on our Ohana floor and it just was an emotional moment to know that we're back and that our Ohana are back in the offices and that we're opening back up. This is just a critical time. So it's an amazing quarter, and it's juxtaposed against -- the pandemic is not over everywhere, but it's starting to be over somewhere and certainly in San Francisco, where we have 850,000 people, but we only had a couple dozen infections per day last week. So it's a great moment.

艾米和我周一在舊金山的辦公室，一起在我們的 Ohana 樓層，知道我們回來了，我們的 Ohana 又回到了辦公室，而且我們正在重新開放，這是一個激動人心的時刻。這只是一個關鍵時刻。所以這是一個了不起的季度，它與它並列 - 大流行並沒有在所有地方結束，但它開始在某個地方結束，當然在舊金山，我們有 850,000 人，但上週我們每天只有幾十個感染.所以這是一個偉大的時刻。

So we're grateful. We're grateful for this incredible performance by our team. We're grateful for the phenomenal quarter. It far exceeded our expectations. And I've just never seen a quarter like this. I mean Gavin will go into the details. Bret will go into the details. It was just incredible. It was beyond our expectation. It's the -- not just the best first quarter we've ever had. I think it's the best quarter we've ever had. We delivered $5.96 billion in revenue. It was up 23% year-over-year. Just the customer velocity, the pipelines, the growth of the company, the ability for the teams to interact and have a huge impact, it was just awesome.

所以我們很感激。我們非常感謝我們團隊的出色表現。我們感謝這個非凡的季度。它遠遠超出了我們的預期。而且我從來沒有見過這樣的四分之一。我的意思是加文將詳細介紹。布雷特將詳細介紹。這太不可思議了。這超出了我們的預期。這不僅是我們有史以來最好的第一季度。我認為這是我們有史以來最好的季度。我們實現了 59.6 億美元的收入。同比增長 23%。只是客戶速度、管道、公司的發展、團隊互動和產生巨大影響的能力，真是太棒了。

We delivered $3.2 billion in operating cash flow, and as a percentage of our revenue, it's just amazing what Salesforce can do today. Salesforce as a company, I said doing well and doing good. I mean here's the doing well part, $3.2 billion in cash flow on $5.96 billion in revenue, and that's up 74% year-over-year, reflecting the strong performance we've had since the impact of the pandemic began last year.

我們提供了 32 億美元的運營現金流，占我們收入的百分比，Salesforce 今天的表現令人驚嘆。 Salesforce 作為一家公司，我說做得好，做得好。我的意思是表現良好的部分，32 億美元的現金流和 59.6 億美元的收入，同比增長 74%，反映了自去年大流行開始影響以來我們的強勁表現。

Operating margin, again -- and a huge call out here to Amy, and I'm going to talk more about Amy's amazing performance for the company and how she's rebuilt this incredible operating margin model and operating model and how she's really kind of almost redesigning the company from the bottom up. It's awesome, what she's been doing. And you can see it here. Operating margin in the quarter was a healthy 20.2%. You look at the last 4 quarters, now starting Q2 of last year, Q3, Q4 and now Q1, our margin, our revenue, our cash flow, it's awesome, and to see these changes that Amy has brought to the company has just inspired me.

營業利潤率，再次 - 在這裡對艾米的巨大呼籲，我將更多地談論艾米為公司帶來的驚人表現，以及她如何重建這種令人難以置信的營業利潤率模型和運營模式，以及她是如何幾乎重新設計的公司自下而上。太棒了，她一直在做什麼。你可以在這裡看到它。本季度的營業利潤率為健康的 20.2%。你看看過去 4 個季度，現在從去年第二季度開始，第三季度、第四季度和現在第一季度，我們的利潤率、我們的收入、我們的現金流，太棒了，看到艾米給公司帶來的這些變化剛剛激發了靈感我。

Now for the fiscal 2022, I'm thrilled we are raising our revenue, our guide by $250 million to $26 billion. This is really one of the most -- this is 1 of the largest raises we've really ever had. It represents 22% projected growth year-over-year. And we're not just raising revenue. And again, thanks to Amy. We're raising our operating margin to 18%. So that is incredible.

現在對於 2022 財年，我很高興我們的收入增加了 2.5 億美元，達到 260 億美元。這確實是最大的加薪之一——這是我們真正擁有過的最大的加薪之一。預計同比增長 22%。我們不只是增加收入。再次感謝艾米。我們將營業利潤率提高到 18%。所以這太不可思議了。

And in a few years, we're going to be doing $50 billion in -- by fiscal year '26. So that is an incredible thing. I mean we're really seeing some momentum and some cadence that's very powerful for the company. And the quarter once again demonstrates the strength and durability of our business, the quality of our leadership team. You're going to hear that today on the call, the relevance of our products, the incredible demand for digital transformation. But ultimately, it's been about customer success.

幾年後，我們將在 26 財年實現 500 億美元。所以這是一件不可思議的事情。我的意思是，我們確實看到了一些對公司來說非常強大的動力和節奏。本季度再次展示了我們業務的實力和持久性，以及我們領導團隊的素質。您將在今天的電話會議上聽到我們產品的相關性以及對數字化轉型的巨大需求。但最終，它關乎客戶的成功。

And when I can talk about some of these customers and their amazing success with our products, companies that we know like Honeywell and 3M and Sonos. And I mean the Sonos story is just awesome, where they've just had this 84% growth when they went to consumer using our products. We're so grateful to them. But also, you're going to see it in the core products like I'm going to hit some of the key things, like how 8 of the top 10 deals included Tableau, what a successful story that acquisition has been and MuleSoft and ExactTarget. Now it's all worked out so well for us. This quarter is really just demonstrating that strength and durability of our business.

當我可以談論其中一些客戶以及他們使用我們的產品取得的驚人成功時，我們所知道的公司如霍尼韋爾、3M 和 Sonos。我的意思是，Sonos 的故事非常棒，當他們使用我們的產品面向消費者時，他們剛剛實現了 84% 的增長。我們非常感謝他們。而且，你會在核心產品中看到它，比如我將介紹一些關鍵的東西，比如前 10 項交易中的 8 項如何包括 Tableau，收購是多麼成功的故事，以及 MuleSoft 和 ExactTarget .現在對我們來說一切都很好。本季度實際上只是展示了我們業務的實力和持久性。

And I'll tell you, we're the leader in the CRM market. We all know that. We all know we're #1 CRM. You -- everyone's just saw the IDC again, ranked Salesforce #1 by market share in CRM. Everyone knows the strategic nature of CRM. And this is the eighth year in a row that we're #1 in CRM, which is awesome.

我會告訴你，我們是 CRM 市場的領導者。我們都知道。我們都知道我們是#1 CRM。你——每個人都剛剛再次看到 IDC，將 Salesforce 在 CRM 中的市場份額排名第一。每個人都知道 CRM 的戰略性質。這是我們連續第八年在 CRM 中排名第一，這太棒了。

And last week, Salesforce also received one of the very highest ratings from Gartner as a vendor. We track that information. It's our customers talking to Gartner. We tracked it and saw this incredibly, what we call, strong overall vendor rating. That meant a lot to us.

上週，Salesforce 還獲得了 Gartner 作為供應商的最高評級之一。我們跟踪這些信息。是我們的客戶在與 Gartner 交談。我們對其進行了跟踪並看到了令人難以置信的，我們稱之為強大的整體供應商評級。這對我們來說意義重大。

And I'll tell you of something else that means a lot to us, and this is kind of a moment. And I think we can say this. We -- it's -- we have to kind of get our head around this. We're about to pass SAP as the largest enterprise applications company in the world. And all the analysts have their models. They -- I know you all track SAP and Salesforce. We don't really talk so much about SAP since they mostly exited the CRM market so many years ago. But I'll tell you that it's awesome to see not just be #1 in CRM, but, yes, we're going to be the #1 enterprise software applications company in the world passing SAP. That -- this is a moment. We can see it's imminent.

我會告訴你一些對我們來說意義重大的事情，這是一個重要的時刻。我認為我們可以這樣說。我們 - 它是 - 我們必須解決這個問題。我們即將超越 SAP，成為全球最大的企業應用程序公司。所有的分析師都有他們的模型。他們——我知道你們都跟踪 SAP 和 Salesforce。我們並沒有真正過多地談論 SAP，因為他們在很多年前就退出了 CRM 市場。但我會告訴你，很高興看到不僅在 CRM 中排名第一，而且，是的，我們將成為全球排名第一的企業軟件應用程序公司，超過 SAP。那 - 這是一個時刻。我們可以看到它迫在眉睫。

And this pending acquisition of Slack also, I mean, we've never been better positioned for the future. This is a all digital. It's an all work-from-anywhere world. It's made our company, Salesforce and Slack, well, more important to customers than ever. So bringing them together is so exciting. And once this merger is approved, we're going to be able to build Slack and all of our products, they'll all become Slack first. It's going to make our customers more productive. We're going to work with software companies in building incredible new capabilities like we've seen these amazing examples of what Slack can do.

我的意思是，這次對 Slack 的未決收購也從未像現在這樣為未來做好準備。這是一個全數字的。這是一個隨時隨地工作的世界。這讓我們的公司 Salesforce 和 Slack 對客戶來說比以往任何時候都更加重要。所以把他們聚集在一起真是太令人興奮了。一旦這次合併獲得批准，我們將能夠構建 Slack 和我們所有的產品，它們都將首先成為 Slack。這將使我們的客戶更有效率。我們將與軟件公司合作，構建令人難以置信的新功能，就像我們已經看到了 Slack 可以做的這些驚人的例子一樣。

I'll tell you, we're really excited about creating this #1 enterprise applications company, and I can't wait for all of us to be back together and with you. And hopefully, we'll be together in person at our Investor Day coming up.

我會告訴你，我們對創建這家排名第一的企業應用程序公司感到非常興奮，我迫不及待地期待我們所有人與你重逢。希望我們能在即將到來的投資者日見面。

So of course, the real highlight of every quarter is the success of our customers. Customer success is one of our highest values, trust, customer success, innovation, the ease of use of our products, quality, and we just had amazing traction during the quarter across all parts of our business. We hit an all-time high in 7-figure plus transactions, and I hope that Gavin will talk about that.

因此，每個季度的真正亮點當然是我們客戶的成功。客戶成功是我們最高的價值觀之一，信任、客戶成功、創新、我們產品的易用性、質量，我們在本季度的所有業務部門都獲得了驚人的牽引力。我們在 7 位數以上的交易中創下了歷史新高，我希望 Gavin 會談論這個問題。

It was really this kind of first really, quarter of our company history, more than 120% growth year-over-year in these huge transactions. It really shows the whole world is going digital, and customers are connecting with their customers in a new way, and everyone needs CRM to do it. And they need analytics, and they need integration. And we are the leaders in that area. And we're able to partner with them to deliver this incredible capability.

這真的是我們公司歷史上的第一個季度，在這些巨額交易中同比增長超過 120%。它確實表明整個世界正在走向數字化，客戶正在以一種新的方式與他們的客戶聯繫，每個人都需要 CRM 來做到這一點。他們需要分析，他們需要整合。我們是該領域的領導者。我們能夠與他們合作以提供這種令人難以置信的能力。

On average, these 7-figure transactions, they included 4 or more of our clouds. That's awesome. It really goes to show the durability of the business built by so many amazing products, Sales Cloud, Service Cloud, Marketing Cloud, Community Cloud, Commerce Cloud, Integration Cloud, the Analytics Cloud with Tableau is awesome. And our successful integrations of ExactTarget and Tableau and MuleSoft continue to drive these incredible results for our customers and gives us so much confidence in this pending Slack acquisition.

平均而言，這些 7 位數的交易包括 4 個或更多我們的雲。棒極了。它確實展示了由這麼多令人驚嘆的產品構建的業務的持久性，Sales Cloud、Service Cloud、Marketing Cloud、Community Cloud、Commerce Cloud、Integration Cloud、帶有 Tableau 的 Analytics Cloud 真是太棒了。我們對 ExactTarget 和 Tableau 以及 MuleSoft 的成功整合繼續為我們的客戶帶來這些令人難以置信的成果，並使我們對即將進行的 Slack 收購充滿信心。

We're seeing more and more inclusion of Tableau and MuleSoft in our large deals as customers accelerate their digital transformations. I mean I'm sure it will shock everyone that Tableau, Tableau, was part of 8 of our top 10 deals. That really is evidence and the integration we've had with Customer 360 of its success. And MuleSoft was included in 5 of these top 10 deals. It was awesome.

隨著客戶加速數字化轉型，我們看到越來越多的 Tableau 和 MuleSoft 被納入我們的大型交易中。我的意思是，我確信 Tableau、Tableau 是我們十大交易中的 8 項交易的一部分，這會讓每個人都感到震驚。這確實是我們與 Customer 360 成功集成的證據和集成。 MuleSoft 被列入這 10 大交易中的 5 項。太棒了。

Honeywell is a great example, and I love Darius Adamczyk, incredible CEO, great example of a company investment in Salesforce across their business. Now they've been manufacturing innovative products for more than 100 years, creating connected customer experience, breaking down silos for their 100,000 employees globally. But with Sales Cloud, Honeywell is enabling its global sales team to manage thousands of customers and sellers from anywhere. And anyone who was with Bret and I in Washington, D.C. or got to watch it online, we went there to deal with our customers, employees in person, and we did this incredible world tour. And we have the Honeywell executives. They're talking about this incredible transformation of their global sales team. And then it was really cool. And Tableau dashboards and Honeywell are providing their sales teams with these key insights to improve their productivity.

霍尼韋爾就是一個很好的例子，我喜歡 Darius Adamczyk，他是一位了不起的首席執行官，他是公司在整個業務中投資 Salesforce 的一個很好的例子。現在，他們製造創新產品已有 100 多年的歷史，創造互聯的客戶體驗，為全球 100,000 名員工打破孤島。但藉助 Sales Cloud，霍尼韋爾正使其全球銷售團隊能夠管理來自任何地方的數千名客戶和賣家。任何與我和布雷特一起在華盛頓特區或在線觀看的人，我們都親自去那裡與我們的客戶、員工打交道，我們進行了這次令人難以置信的世界巡演。我們有霍尼韋爾的高管。他們正在談論他們的全球銷售團隊的這種令人難以置信的轉變。然後真的很酷。 Tableau 儀表板和霍尼韋爾正在為他們的銷售團隊提供這些關鍵見解，以提高他們的生產力。

And with My Trailhead, which is our reskilling platform, that's Honeywell reskilling their sales team right in their flow of work, increasing their performance. And Service Cloud, Service Cloud, together with Field Service and Experience Cloud is enabling Honeywell to seamlessly dispatch technicians for on-site product maintenance and proactive asset management and connected service partner experiences and customer experience for scheduling appointments and instantly troubleshooting problems. In fact, it was really that field service capability that helped us to amplify our relationship with Honeywell, and that's when Darius and I started to really collaborate and say, wow, we could bring this to the aviation business in Honeywell to transform how they're doing their amazing jobs.

借助我們的技能培訓平台 My Trailhead，霍尼韋爾可以在他們的工作流程中重新培訓他們的銷售團隊，提高他們的績效。服務雲、服務雲以及現場服務和體驗雲使霍尼韋爾能夠無縫地派遣技術人員進行現場產品維護和主動資產管理，並連接服務合作夥伴體驗和客戶體驗，以安排約會和即時解決問題。事實上，正是這種現場服務能力幫助我們擴大了與霍尼韋爾的關係，就在那時我和達里烏斯開始真正合作並說，哇，我們可以把它帶到霍尼韋爾的航空業務，改變他們的方式。重新做他們驚人的工作。

I'll tell you, for a long time, we've had a trusted relationship with Dell Technologies and their incredible founder and tremendous brand of Salesforce and Michael Dell. Last year, Dell partnered with Salesforce Professional Services, implemented the world's largest deployment of Sales Cloud to support its sales reps, go-to-market channel partners.

我會告訴你，很長一段時間以來，我們與戴爾科技公司及其令人難以置信的創始人和偉大的品牌 Salesforce 和邁克爾戴爾建立了值得信賴的關係。去年，戴爾與 Salesforce Professional Services 合作，實施了世界上最大的 Sales Cloud 部署，以支持其銷售代表和進入市場的渠道合作夥伴。

I'll tell you, I just finished Michael Dell's new book. It's called Play Nice But Win. And it inspired me, and it really was exciting in that Salesforce and Dell have this partnership that helped them win. It was powerful. And with Service Cloud, Dell is also giving its service agents a 360-degree view of every customer. That was so awesome to see. And they're using Marketing Cloud for B2B customer journeys. They're transforming their seller experience. It's incredible.

我告訴你，我剛讀完邁克爾戴爾的新書。它被稱為“玩得好但贏”。它啟發了我，而且 Salesforce 和戴爾的這種合作關係幫助他們贏得了勝利，這真的很令人興奮。它很強大。借助 Service Cloud，戴爾還為其服務代理提供了每位客戶的 360 度全方位視圖。那真是太棒了。他們正在將 Marketing Cloud 用於 B2B 客戶旅程。他們正在改變他們的賣家體驗。這太不可思議了。

Another amazing CEO that we work with, Mike Roman at 3M. And for those of you who watched Bret and I in Singapore, Bret and I flew to Singapore for the kickoff of the quarter. And we are there in Singapore, and we were live with our customers and with our Ohana and employees and everybody and government leaders, and well, we had the opportunity to talk to Mike Roman, the CEO of 3M, the iconic innovator, the center of efforts to combat COVID-19. And we were so happy to partner with them. And today, 3M is using Customer 360 across 83 countries.

與我們共事的另一位出色的 CEO，3M 的 Mike Roman。對於那些在新加坡觀看 Bret 和我的人來說，Bret 和我飛往新加坡參加本季度的開球。我們在新加坡，我們與我們的客戶、我們的 Ohana 和員工以及每個人以及政府領導人一起生活，我們有機會與 3M 的首席執行官、標誌性的創新者、中心抗擊 COVID-19 的努力。我們很高興與他們合作。如今，3M 在 83 個國家/地區使用 Customer 360。

And when Mike realized there were counterfeit masks that weren't providing the protection of a 3M mask, they partnered with us to make sure we can immediately deliver fraud reporting center with Service Cloud, and we did it. It was an awesome story. And we had to do it instantly, immediately.

當 Mike 意識到假冒口罩無法提供 3M 口罩的保護時，他們與我們合作以確保我們可以立即使用 Service Cloud 提供欺詐報告中心，我們做到了。這是一個很棒的故事。我們必須立即，立即。

There's been so many stories like that, especially in our governments. You see then what happened or what just is going on right now in Australia in Melbourne. They're, again, relying on Salesforce's contact tracing system to resolve this breakout. They're all locked down. I hope that they'll be able to identify everyone quickly and open back up quickly. And I know they've got the infrastructure to do it with Salesforce Work.com. It's an incredible story that's going on down there.

有很多這樣的故事，尤其是在我們的政府中。然後你會看到在墨爾本發生的事情或現在正在澳大利亞發生的事情。他們再次依靠 Salesforce 的聯繫人跟踪系統來解決這個問題。他們都被鎖定了。我希望他們能夠快速識別每個人並迅速打開備份。而且我知道他們已經擁有使用 Salesforce Work.com 進行此操作的基礎架構。這是一個令人難以置信的故事，正在那裡發生。

3M, getting back to them. Well, they're also piling Tableau to create a single dashboard for their entire business.

3M，回复他們。嗯，他們還在使用 Tableau 來為他們的整個業務創建一個單一的儀表板。

Tableau continues to be a strategic part of so many of our customers' business. And we're working with the pioneering online mortgage lender, Rocket Mortgage, to make complex transactions like buying a home or a car and evaluating personal loan. I mean it's amazing what's going on with Rocket Mortgage. I'll tell you, I've really enjoyed working with that company, and they're inspiring because they themselves are just such tremendous innovators. And if you know their CEO, Jay Farner, well, you'll understand how they're using our Financial Services Cloud and Marketing Cloud to deliver a source of truth for all their customers' data and drive personalized engagement and scale. Jim is incredible. And during the quarter, they also selected MuleSoft to integrate across all their various systems.

Tableau 仍然是我們眾多客戶業務的戰略組成部分。我們正在與開創性的在線抵押貸款機構 Rocket Mortgage 合作，進行複雜的交易，例如購買房屋或汽車以及評估個人貸款。我的意思是火箭抵押貸款的情況令人驚訝。我會告訴你，我真的很喜歡與那家公司合作，他們很鼓舞人心，因為他們本身就是如此偉大的創新者。如果您了解他們的首席執行官 Jay Farner，您將了解他們如何使用我們的金融服務雲和營銷雲為所有客戶的數據提供真實來源，並推動個性化的參與和規模。吉姆是不可思議的。在本季度，他們還選擇了 MuleSoft 來集成他們所有的各種系統。

Of course, I mentioned Sonos before. It was an incredible story. They went digital, direct to their consumer, well, grew their business 84% year-over-year. And with Marketing Cloud, Sonos connected with their customers through e-mail, through mobile, through social channels. They built to Customer 360. They started pioneering a single source of truth. And it continues to scale its business. They've even invested very deeply in e-commerce with Salesforce as well as Tableau, great story.

當然，我之前提到過Sonos。這是一個不可思議的故事。他們採用數字化方式，直接面向消費者，他們的業務同比增長 84%。借助 Marketing Cloud，Sonos 通過電子郵件、移動設備和社交渠道與客戶建立聯繫。他們構建了 Customer 360。他們開始開創單一的事實來源。它繼續擴大其業務。他們甚至通過 Salesforce 和 Tableau 對電子商務進行了非常深入的投資，很棒的故事。

And I'll tell you, those stories and the story I just mentioned, like what's happening in Melbourne, well, that's all about our public sector business or the country of Japan with our Vaccine Cloud. There are so many places here in the United States like Lake County. I mean it's been an unbelievable year. It's been an unbelievable quarter. I mean it really has been a lot about doing well and doing good. It's been about really showing how Salesforce is. The business could be the greatest platform for change. Now I'm telling you something that's really exciting and something new, and I couldn't be more excited to tell you this. And we're going to take another huge step forward here.

我會告訴你，那些故事和我剛才提到的故事，比如墨爾本發生的事情，嗯，這都是關於我們的公共部門業務或日本這個國家的疫苗雲。美國有很多地方，比如萊克縣。我的意思是，這是令人難以置信的一年。這是一個令人難以置信的季度。我的意思是，做得好和做得好真的很重要。這是關於真正展示 Salesforce 是如何的。企業可能是最大的變革平台。現在我要告訴你一些非常令人興奮和新的東西，我非常興奮地告訴你這個。我們將在這裡邁出又一大步。

Now I've been telling you that we've been doing a number of off-sites, bringing our executives together. We've opened our offices now. We have our employees back, and we're about to take another huge leap forward. We're taking a hugely forward because Dreamforce is coming back in person in 2021 to San Francisco as well as simultaneously in New York, Paris, London. It's going to be a global Dreamforce. And we're going to have thousands of people at every venue. We're going to work closely with local officials, and we're going to do an amazing show. I hope all of you will be there, September 21st to 23rd. It's going to be the first global Dreamforce.

現在我一直在告訴你，我們一直在做一些場外活動，將我們的高管聚集在一起。我們現在已經開設了辦事處。我們的員工回來了，我們即將邁出另一個巨大的飛躍。我們正在向前邁進一大步，因為 Dreamforce 將於 2021 年親自返回舊金山，並同時返回紐約、巴黎和倫敦。這將是一個全球性的夢想力量。我們將在每個場地都有成千上萬的人。我們將與當地官員密切合作，我們將舉辦一場精彩的演出。我希望你們所有人都會在 9 月 21 日至 23 日到場。這將是第一個全球 Dreamforce。

And we're going to host groups of Trailblazers in COVID-19 safe places, along with tens of millions online. It's going to be a hybrid event, physical and digital. Now we're going to follow these public health guidelines for every city, and I expect all of you to follow them as well. And in the U.S., we're going to require our attendees to be fully vaccinated to attend. That's going to be a critical part, and it's how our core epidemiologists and medical teams at Salesforce have decided that we can do this amazing reopening, Dreamforce.

我們將在 COVID-19 安全的地方接待開拓者小組，並在網上接待數以千萬計的人。這將是一個混合事件，物理和數字。現在，我們將為每個城市遵循這些公共衛生指南，我希望你們所有人也遵循它們。在美國，我們將要求我們的與會者完全接種疫苗才能參加。這將是一個關鍵部分，這就是我們在 Salesforce 的核心流行病學家和醫療團隊如何決定我們可以做這個令人驚嘆的重新開放，Dreamforce。

We've worked with our long-time partner and customer, Marriott. We've worked with leaders in this -- in our local medical communities and university, including Dr. Larry Brilliant. He's been a great friend of our company, a tremendous epidemiologist, to follow these best practices and create this amazing new Dreamforce. So Dreamforce 2021 is going to be the most inclusive, the most accessible. Dreamforce ever. It's going to bring the magic of Dreamforce to anyone, everywhere, anywhere. I mean it's going to be great to be back together and be with all of you. It's going to be a family reunion, an incredible family reunion.

我們與我們的長期合作夥伴和客戶萬豪合作。我們在這方面與當地醫學界和大學的領導者合作，包括 Larry Brilliant 博士。他是我們公司的好朋友，一位偉大的流行病學家，遵循這些最佳實踐並創建了這個令人驚嘆的新 Dreamforce。所以 Dreamforce 2021 將是最具包容性、最容易獲得的。永遠的夢想之力。它將把 Dreamforce 的魔力帶給任何人、任何地方、任何地方。我的意思是，能重新在一起並和你們所有人在一起會很棒。這將是一次家庭團聚，一次令人難以置信的家庭團聚。

And I'm also thrilled that, earlier this month, we opened Salesforce Tower. As I mentioned, Amy and I were together in San Francisco. It was also -- we've opened it in London. And then it's great to be back to work. And we want to do -- we want to be the pioneers in back to work. We know that people are going to still be working at home, but they're going to be in the office, too. And we're going to be doing these off-sites and events and get togethers and collaborations, and we're even going to have this incredible new training facility, a cultural immersion facility, a place where we can bring large groups of our employees or even customers and their families together with Salesforce ranch, and we couldn't be more excited about that.

我也很高興，本月早些時候，我們開設了 Salesforce Tower。正如我提到的，艾米和我一起在舊金山。它也是 - 我們已經在倫敦開設了它。然後很高興能重新開始工作。我們想做——我們想成為重返工作崗位的先驅。我們知道人們仍將在家工作，但他們也將在辦公室。我們將在場外進行這些活動、聚會和合作，我們甚至將擁有這個令人難以置信的新培訓設施，一個文化沉浸設施，一個我們可以帶來大量員工的地方甚至客戶及其家人與 Salesforce 牧場一起，我們對此感到無比興奮。

And we see those 4 things together: in the office, at home, events like off-sites and Dreamforce, and even this incredible new training facility. I mean it's really inspired by General Electric. I went to Crotonville, when I worked so closely with GE and their digital transformation. I was wondering, wow, we never had something like this. I never saw the need. Why would Salesforce need a Crotonville, but today we knew. Because so many of our employees are at home, how are we going to immerse them in our values? How are we going to educate them on our products? How are we going to show them what Salesforce is really all about? And that's why this incredible facility will be so important to us, and we're looking forward to talking about that.

我們將這 4 件事放在一起：在辦公室、在家裡、場外活動和 Dreamforce 等活動，甚至是這個令人難以置信的新培訓設施。我的意思是它真的受到通用電氣的啟發。當我與通用電氣及其數字化轉型密切合作時，我去了克羅頓維爾。我想知道，哇，我們從來沒有過這樣的事情。我從來沒有看到需要。為什麼 Salesforce 需要 Crotonville，但今天我們知道了。由於我們的許多員工都在家，我們將如何讓他們沉浸在我們的價值觀中？我們將如何教育他們了解我們的產品？我們將如何向他們展示 Salesforce 的真正含義？這就是為什麼這個令人難以置信的設施對我們如此重要，我們期待著談論它。

Over the last 22 years, we built an amazing culture, an amazing company. Soon to be the #1 enterprise applications company in the world, already the #1 CRM in the world. Now I'll tell you, when we started this business, we had 3 dreams: to create a new technology model, we call that the cloud; a new business model, subscription, we all understand that now; and a third model, a third model based on 1-1-1, 1% of our equity, 1% of our time, our products, and that's become the business is the greatest platform for change. We couldn't be more excited.

在過去的 22 年裡，我們建立了一種了不起的文化，一家了不起的公司。很快就會成為世界上排名第一的企業應用程序公司，已經是世界上排名第一的 CRM。現在我告訴你，當我們開始這項業務時，我們有 3 個夢想：創建一個新的技術模型，我們稱之為雲；一種新的商業模式，訂閱，我們現在都明白了；第三種模式，基於1-1-1的第三種模式，我們1%的股權，我們1%的時間，我們的產品，這已經成為企業最大的變革平台。我們再興奮不過了。

And I'll tell you 6 million employee volunteer hours, well, that's evidence that this is working; $450 million in grants so far. 51,000 nonprofits running on our service for free, it's more evidence. I'm happy to give this testimony that our culture has enabled us to create an amazing company but also to attract and retain amazing talent. And I'm enormously proud that Fortune just ranked us as one of the best places to work in the world. Again, I think this year, we're #2. But it's that 13th year that we've been on this list. It's really evidence that we can all do more in business. We can do well, and we can do good.

我會告訴你 600 萬個員工志願服務時間，嗯，這是有效的證據；到目前為止，已獲得 4.5 億美元的贈款。 51,000 個非營利組織在我們的服務上免費運行，這是更多的證據。我很高興能證明我們的文化使我們能夠創建一家了不起的公司，同時也吸引和留住了優秀的人才。我非常自豪《財富》雜誌剛剛將我們列為世界上最好的工作場所之一。同樣，我認為今年，我們是#2。但這是我們上榜的第 13 年。這確實證明我們都可以在業務中做得更多。我們可以做得很好，我們也可以做得很好。

And before I turn this over to Amy and I want to make sure you know about 2 amazing reimagine events that are also coming up this month. We're going to have Connections on June 2, our digital marketing event of the year; and on June 23, TrailheaDX. I hope you're going to be with us for both of those. I hope you'll be with us for Dreamforce. We're so grateful for your incredible partnership during this year, and we're delighted to deliver the best quarter we've ever delivered.

在我把這個交給艾米之前，我想確保你知道本月還將發生的 2 個令人驚嘆的重新想像活動。我們將在 6 月 2 日舉行 Connections，這是我們今年的數字營銷活動； 6 月 23 日，TrailheaDX。我希望你能和我們在一起。我希望你能和我們一起為 Dreamforce 工作。我們非常感謝您在今年的出色合作夥伴關係，我們很高興能夠提供我們有史以來最好的季度。

And now a key part of that, Amy. Amy, go ahead.

現在是其中的關鍵部分，艾米。艾米，繼續。

Thank you, Marc, and good afternoon, everyone. Performance in Q1 was impressive across all financial metrics. We saw record levels of Q1 new business performance and strength across all products, regions and customer sizes. Importantly, we were able to achieve growth while also delivering profitability.

謝謝你，馬克，大家下午好。第一季度所有財務指標的表現都令人印象深刻。我們看到所有產品、地區和客戶規模的第一季度新業務表現和實力都創歷史新高。重要的是，我們能夠在實現增長的同時實現盈利。

So let me take you through some of the results for Q1 fiscal '22. I'll begin with top line commentary. Total revenue for the first quarter was $5.96 billion, up 23% year-over-year or 20% in constant currency. The strong new business pipeline that we discussed last quarter enabled us to deliver these results. While we had a favorable comparison for Q1, our 2-year new business CAGR also illustrates the continued strength in the business.

因此，讓我帶您了解 22 財年第一季度的一些結果。我將從最重要的評論開始。第一季度總收入為 59.6 億美元，同比增長 23% 或按固定匯率計算增長 20%。我們上個季度討論的強大的新業務渠道使我們能夠交付這些結果。雖然我們對第一季度的比較有利，但我們 2 年的新業務複合年增長率也說明了該業務的持續實力。

A few areas to highlight. As Marc mentioned, we saw a record number of Q1 7-figure deals. Not only were these deals big, they were multi-cloud transformation with, on average, more than 4 clouds included in each. Our vertical strategy continues to align our products to strategic industries. In particular, we saw strength in the public sector, which continues to accelerate as governments around the world turn to Salesforce Solutions.

需要強調的幾個領域。正如 Marc 所說，我們看到了創紀錄的第一季度 7 位數交易。這些交易不僅規模大，而且是多雲轉型，平均每個交易包含超過 4 個雲。我們的垂直戰略繼續使我們的產品與戰略行業保持一致。特別是，我們看到了公共部門的實力，隨著世界各國政府轉向 Salesforce 解決方案，這種實力繼續加速。

Service Cloud demonstrated another quarter of incredible growth at scale with Q1 revenue of $1.5 billion, growing 20% year-over-year, and Tableau continues to perform well. We are pleased with the progress of the integration. For example, in Q1, Tableau was in 8 of our top 10 deals for the company and in more than 60% of our 7-figure plus deals.

Service Cloud 又一個季度實現了驚人的規模增長，第一季度收入為 15 億美元，同比增長 20%，Tableau 繼續表現良好。我們對整合的進展感到高興。例如，在第一季度，Tableau 參與了公司前 10 項交易中的 8 項，以及超過 60% 的 7 位數以上交易。

Revenue attrition in Q1 was between 9% and 9.5%. We were -- we continue to be pleased with the progress made on attrition.

第一季度的收入損失在 9% 到 9.5% 之間。我們 - 我們繼續對減員方面取得的進展感到滿意。

Our remaining performance obligation representing all future revenue under contract ended Q1 at approximately $35 billion, up 19% 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 $17.8 billion, up 23% year-over-year or 20% in constant currency.

我們在第一季度結束時代表所有未來合同收入的剩餘履約義務約為 350 億美元，同比增長 19%。當前剩餘的履約義務或 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，約為 178 億美元，同比增長 23% 或按固定匯率計算增長 20%。

Turning to operating margins. Q1 non-GAAP operating margin was 20.2%, largely driven by revenue outperformance and incremental expense efficiencies. Q1 GAAP EPS was $0.50, and non-GAAP EPS was $1.21. 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 $0.23 and non-GAAP EPS by approximately $0.24.

轉向營業利潤率。第一季度非 GAAP 營業利潤率為 20.2%，主要受收入表現出色和費用效率增加的推動。第一季度 GAAP 每股收益為 0.50 美元，非 GAAP 每股收益為 1.21 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 0.23 美元，非 GAAP 每股收益約 0.24 美元。

Turning to cash flow. Operating cash flow in the first quarter was $3.2 billion, up 74% year-over-year. As a reminder, last year's cash flow seasonality was impacted by our decision to provide temporary financial flexibility to some of our customers during the pandemic. And we continue to expect cash flow seasonality to skew higher in Q1 and Q4. CapEx for the quarter was $171 million, leading to free cash flow of $3.1 billion, up 99% year-over-year.

轉向現金流。第一季度經營現金流為 32 億美元，同比增長 74%。提醒一下，去年的現金流季節性受到我們決定在大流行期間為我們的一些客戶提供臨時財務靈活性的影響。我們繼續預計第一季度和第四季度的現金流季節性將偏高。本季度資本支出為 1.71 億美元，自由現金流為 31 億美元，同比增長 99%。

Before moving on to guidance, I want to update you on the status of the Slack transaction. We remain on track to close in Q2. Now as we've refined our Q2 and full year guidance, we have also refined our expectation on the Slack closing date, which we now expect to be near the very end of the quarter. So I want to emphasize that all guidance assumptions involve -- changes involving Slack are completely timing driven.

在繼續指導之前，我想向您更新 Slack 交易的狀態。我們仍有望在第二季度結束。現在，隨著我們完善了第二季度和全年指導，我們也完善了對 Slack 截止日期的預期，我們現在預計該截止日期將接近本季度末。所以我想強調所有指導假設都涉及——涉及 Slack 的變化完全是時間驅動的。

So turning to guidance. We expect Q2 revenue of $6.22 billion to $6.23 billion or approximately 21% growth year-over-year. This guidance assumes no contribution from Slack. For Q2, we expect to deliver CRPO growth of approximately 20%. This guidance assumes approximately 3 points of growth from Slack.

所以轉向指導。我們預計第二季度收入為 62.2 億美元至 62.3 億美元，同比增長約 21%。本指南假定 Slack 沒有任何貢獻。對於第二季度，我們預計 CRPO 將實現約 20% 的增長。該指南假設 Slack 大約有 3 個增長點。

As a reminder, Q2 fiscal '21 benefited from strong renewals performance. We expect Q2 GAAP loss per share of negative $0.10 to negative $0.09 and non-GAAP earnings per share of $0.91 to $0.92. Our assumptions include a $0.09 impact from Slack, primarily driven by OIE and transaction and integration costs.

提醒一下，21 財年第二季度受益於強勁的續訂表現。我們預計第二季度 GAAP 每股虧損為負 0.10 美元至負 0.09 美元，非 GAAP 每股收益為 0.91 美元至 0.92 美元。我們的假設包括來自 Slack 的 0.09 美元影響，主要由 OIE 以及交易和整合成本驅動。

Now moving to fiscal '22 updates. As a result of our Q1 performance, we are raising our fiscal '22 revenue guidance by $250 million to $25.9 billion to $26 billion or approximately 22% growth year-over-year. And this guidance incorporates an expected revenue contribution of $500 million from Slack due to the changes I mentioned in our closed timing assumptions. Our guidance continues to include $190 million from Acumen. Net of the revised Slack contribution, this represents a $350 million raise on our core business. Our decision to raise fiscal '22 revenue is reflective of our Q1 performance and our confidence in our ability to execute for the rest of the year.

現在轉向財政 '22 更新。由於我們第一季度的表現，我們將 '22 財年的收入指引提高了 2.5 億美元至 259 億美元至 260 億美元或同比增長約 22%。由於我在我們的封閉時間假設中提到的變化，該指導包含了來自 Slack 的 5 億美元的預期收入貢獻。我們的指導繼續包括來自 Acumen 的 1.9 億美元。扣除修訂後的 Slack 貢獻，這意味著我們的核心業務增加了 3.5 億美元。我們提高 22 財年收入的決定反映了我們第一季度的表現以及我們對今年剩餘時間執行能力的信心。

We are also raising our fiscal '22 non-GAAP operating margin to 18%, an expansion of 30 basis points year-over-year. This continues to include an expected 160 basis points headwind from Slack and Acumen, continued investment in our core business and the moderate increase of travel in the second half of this year. We are raising fiscal '22 GAAP diluted EPS to $0.22 to $0.24 and non-GAAP diluted EPS to $3.79 to $3.81.

我們還將 22 財年非 GAAP 營業利潤率提高到 18%，同比增長 30 個基點。這繼續包括來自 Slack 和 Acumen 的預期 160 個基點的逆風、對我們核心業務的持續投資以及今年下半年旅行的適度增長。我們將 22 財年 GAAP 攤薄每股收益提高至 0.22 美元至 0.24 美元，非 GAAP 攤薄每股收益提高至 3.79 美元至 3.81 美元。

We expect recent M&A will be an approximately $0.53 headwind to non-GAAP diluted EPS. Please recall that our OIE and EPS guidance assume no contribution from mark-to-market accounting as required by ASU 2016-01.

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 0.53 美元的逆風。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貢獻。

We are also raising fiscal '22 operating cash flow guidance by 2 points, now expecting 12% to 13% growth year-over-year. The increase from our previous guide is primarily driven by revenue performance and by the refined timing expectations on M&A. The dilutive cash flow impact of Slack and Acumen now represents a headwind to our year-over-year growth of approximately 8 points.

我們還將 22 財年的運營現金流指引提高了 2 個百分點，現在預計同比增長 12% 至 13%。我們之前指南的增長主要是由收入表現和對併購時機的精確預期推動的。 Slack 和 Acumen 對現金流的稀釋性影響現在是我們同比增長約 8 個百分點的逆風。

We continue to expect CapEx to be approximately 3% of revenue in fiscal '22, resulting in a free cash flow growth rate of approximately 12% to 13% 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 12% 至 13%。如前所述，排除併購的預期影響，該比率將為 22% 至 23%。

To close, our impressive start to fiscal '22 positions us well for the rest of the year and keeps us on track to achieve our goal of $50 billion by fiscal '26. It really was a terrific quarter, and I'm grateful to our employees for their focus on both growth and efficiency during the quarter.

最後，我們在 22 財年令人印象深刻的開端使我們在今年餘下的時間裡保持良好狀態，並使我們能夠在 26 財年實現 500 億美元的目標。這確實是一個了不起的季度，我感謝我們的員工在本季度對增長和效率的關注。

Finally, it has been a pleasure to meet many of our shareholders over the past few months, and I want to thank all of you for your continued support of Salesforce.

最後，很高興在過去幾個月與我們的許多股東會面，我要感謝大家一直以來對 Salesforce 的支持。

And with that, Chantal, let's open up the call for questions.

有了這個，Chantal，讓我們開始提問。

(Operator Instructions) Our first question comes from Kash Rangan with Goldman Sachs.

（操作員說明）我們的第一個問題來自高盛的 Kash Rangan。

Congratulations to the team. My first question is for Amy. Amy, nice work on the margins, and clearly, Marc talked about how you're reimagining the company from a fundamental level. Can you just talk about what are the things that you're working on that would give you the right balance between growth, which is great and the margin expansion.

祝賀球隊。我的第一個問題是問艾米的。艾米，邊際工作做得很好，很明顯，馬克談到了你如何從根本上重新構想公司。你能談談你正在做的事情是什麼，可以讓你在增長之間取得適當的平衡，這很好，利潤擴大。

And if I could sneak in one for Marc, if you look at the future of work, what is the position for salesforce.com as you look at the -- at that future? How is Salesforce positioned to take advantage of what you believe to be the future of working and whatever that is, the way we work in the future?

如果我可以為 Marc 提供一個，如果你看看未來的工作，那麼當你看到未來時，salesforce.com 的位置是什麼？ Salesforce 如何定位以利用您認為的未來工作方式以及我們未來的工作方式？

Kash, thanks for the question. So when I look at the balance between growth and profitability, I want to be clear that growth remains our #1 priority. Investing into growth, especially in this demand environment, is simply the best thing we can do for the company. That said, I am a big believer that a focus on discipline makes for a stronger and more durable company. So over the long term, I believe we need to be able to deliver both.

卡什，謝謝你的提問。因此，當我審視增長和盈利能力之間的平衡時，我想明確一點，增長仍然是我們的第一要務。投資增長，尤其是在這種需求環境下，是我們能為公司做的最好的事情。話雖如此，我堅信專注於紀律會使公司變得更強大、更持久。所以從長遠來看，我相信我們需要能夠同時實現這兩者。

Well, Kash, I really appreciate your question. And we have a tremendous vision for the future of work at Salesforce, future of our own business, like I mentioned that homeworkers or in-office workers, the ability to meet and have off-sites and events and programs and large cultural facilities like we talked about, but we believe there is a fundamental technology platform that is needed to bring all this together. And we also believe that we also have to include all stakeholders, not just our company but our customers and our partners and even consumers.

好吧，Kash，我非常感謝你的問題。我們對 Salesforce 的未來工作、我們自己的業務的未來有著巨大的願景，就像我提到的家庭工作者或辦公室工作人員一樣，能夠在場外會面、舉辦活動和計劃以及像我們這樣的大型文化設施討論過，但我們相信需要一個基礎技術平台來整合所有這些。而且我們還認為，我們還必須包括所有利益相關者，不僅是我們的公司，還有我們的客戶和我們的合作夥伴，甚至是消費者。

And I think that Bret has created an incredible vision for the future of work and an incredible platform. And when you think about as well what Slack is going to do in terms of transforming our company, when each one of our clouds become Slack first, well, that, I think, is a huge accelerator in all this. So Bret, would you just kind of tell us what is the future of work?

我認為 Bret 為未來的工作創造了一個令人難以置信的願景和一個令人難以置信的平台。當你考慮到 Slack 在改變我們公司方面將做些什麼時，當我們的每一個雲首先成為 Slack 時，我認為，這就是所有這一切的巨大加速器。所以布雷特，你能告訴我們工作的未來是什麼嗎？

It's a great question. And more importantly, it's a question on the mind of every CEO in every single one of our customers. When you look at the trends of this past year, like that wonderful Honeywell story that Marc mentioned in his script, they shifted 7,000 salespeople from in-person to virtual customer meetings.

這是一個很好的問題。更重要的是，這是我們每位客戶的每位 CEO 心中的一個問題。當你看看過去一年的趨勢時，就像馬克在他的劇本中提到的那個精彩的霍尼韋爾故事一樣，他們將 7,000 名銷售人員從面對面的客戶會議轉移到了虛擬的客戶會議上。

Customer meetings aren't going back to conference rooms only. They're going to stay on Zoom as companies like ours just realize that we can execute as well as ever before in this digital environment. The contact centers that move from being buildings to be in the cloud, thanks to the power of Service Cloud, they're not going back to buildings anymore. When you think about to move from doctors' offices to telemedicine, you look across our portfolio, the move to digital commerce and digital marketing and incredible Cyber Week numbers we talked about last quarter, we really think that this digital Customer 360, this platform we've been building is an absolutely crucial part of the future of work for every single one of our customers, in particular, because things aren't going to snap back to the way they were.

客戶會議不會只回到會議室。他們將繼續使用 Zoom，因為像我們這樣的公司剛剛意識到我們可以在這個數字環境中像以往一樣出色地執行。由於 Service Cloud 的強大功能，聯絡中心從建築物轉移到雲端，它們不再回到建築物中。當您考慮從醫生辦公室轉向遠程醫療時，您會查看我們的產品組合、轉向數字商務和數字營銷以及我們上個季度談到的令人難以置信的網絡週數，我們真的認為這個數字客戶 360，這個平台我們對於我們的每一位客戶來說，“一直在建設”絕對是未來工作的重要組成部分，尤其是因為事情不會恢復到原來的樣子。

It's also, as Marc mentioned, I think one of the reasons we're so excited about the prospect of closing this Slack transaction. When you think about what does it mean to succeed in the all-digital work-anywhere world, it's Customer 360, which enables you to digitize your entire customer experience and get back to growth in this incredible economy. And it's the digital HQ from Slack, which enables you to connect to all of your employees, all of your partners and all of your customers together in this incredible new engagement platform. And we think the 2 together represent an incredible opportunity that I think is truly the operating system for growth for every company embracing this new way of working and getting back to growth in this new normal.

正如 Marc 所提到的，我認為這也是我們對完成 Slack 交易的前景如此興奮的原因之一。當您思考在全數字化工作世界中取得成功意味著什麼時，它就是 Customer 360，它使您能夠數字化您的整個客戶體驗並在這個令人難以置信的經濟中恢復增長。它是來自 Slack 的數字總部，它使您能夠在這個令人難以置信的新參與平台中與您的所有員工、所有合作夥伴和所有客戶聯繫在一起。我們認為這兩者共同代表了一個難以置信的機會，我認為這確實是每家採用這種新工作方式並在新常態下恢復增長的公司的增長操作系統。

Our next question comes from Brent Bracelin with Piper Sandler.

我們的下一個問題來自 Brent Bracelin 和 Piper Sandler。

I guess, first, great to hear this new concept of a regional in-person Dreamforce. Looking forward to an in-person reunion here. I guess for maybe Marc or Bret here, Salesforce has the -- by far, the broadest portfolio of different cloud applications today. I was hoping you could parse out what customers are asking for what cloud application could see the highest uptick in interest. As you look at the pipeline, you mentioned Tableau being a meaningful part of the large deal pipeline, but would love to just better understand what cloud applications specifically are ramping the most here in this kind of post-vaccine era that we're entering.

我想，首先，很高興聽到這個區域性面對面 Dreamforce 的新概念。期待在這裡重逢。我猜這裡可能是 Marc 或 Bret，Salesforce 擁有 - 迄今為止，當今最廣泛的不同雲應用程序組合。我希望你能分析出客戶對哪些雲應用程序的興趣最高的要求。當您查看管道時，您提到 Tableau 是大型交易管道的重要組成部分，但希望更好地了解在我們正在進入的這種後疫苗時代，哪些雲應用程序在此增長最快。

Yes. Thank you for the question. I think one of the things, if you see the numbers, the strength is really across the portfolio. When we talk about the fact that of those 7-figure deals, they, on average, included more than 4 of our clouds, we're not selling individual products. We're selling a Customer 360 solution to really transform the entire customer experience.

是的。感謝你的提問。我認為其中一件事，如果你看到數字，實力確實貫穿整個投資組合。當我們談到在這些 7 位數的交易中平均包含超過 4 個雲的事實時，我們並不是在銷售單個產品。我們正在銷售 Customer 360 解決方案，以真正改變整個客戶體驗。

That said, last quarter, I talked a lot about the amazing growth in marketing and e-commerce due to Cyber Week. It's really heartening to see just all aspects of the economy and our portfolio growing. One of the most fun for me this quarter in Sales Cloud, we're seeing over 5 million opportunities created every day. That is almost a 20% increase over last quarter. This is every B2B selling team in the world investing in growth again, recognizing the demand environment we see in the economy at every single part of our customer base.

也就是說，上個季度，我談到了網絡週帶來的營銷和電子商務的驚人增長。看到經濟的各個方面和我們的投資組合都在增長，真是令人振奮。本季度在 Sales Cloud 中對我來說最有趣的事情之一是，我們看到每天創造超過 500 萬個機會。這比上一季度增長了近 20%。這是世界上每個 B2B 銷售團隊再次投資於增長，認識到我們在客戶群的每個部分看到的經濟需求環境。

Another great example of this is that -- and I don't even know if you know this, Marc, but in April, Einstein started doing over 100 billion predictions per day. And it's a great example of these platform investments that we did multiple years ago that our customers, that the whole economy goes digital is really -- are really benefiting from. When you think about what does that mean, it means that every e-mail you get is more personalized. It means that every e-commerce you paid is suited to your interest and your needs, driving growth and success for our customers but really represents, I think, the importance of these foundational technology investments.

另一個很好的例子是——我什至不知道你是否知道這一點，馬克，但是在四月份，愛因斯坦開始每天進行超過 1000 億次的預測。這是我們多年前進行的這些平台投資的一個很好的例子，我們的客戶，整個經濟走向數字化，真的 - 真的從中受益。當您考慮這意味著什麼時，這意味著您收到的每封電子郵件都更加個性化。這意味著您支付的每一筆電子商務都適合您的興趣和需求，為我們的客戶推動增長和成功，但我認為這確實代表了這些基礎技術投資的重要性。

And another great example of this, Marc talked about Customer 360, Analytics and Tableau, integration with MuleSoft. You're really seeing the importance of, I'll call it, that technology foundation as it relates to these Customer 360 multi-cloud deployments. MuleSoft is now doing 4.86 billion integration transactions every day. That is up 28% quarter-over-quarter. And it's sort of the boring but important part of this Customer 360, integrating all of those legacy systems so our customers can move faster in the face of an economy that's, I think, shifting more rapidly than ever before and really, I think, shows the importance of our acquisitions as it relates to our overall value proposition of Customer 360.

另一個很好的例子是，Marc 談到了 Customer 360、Analytics 和 Tableau，以及與 MuleSoft 的集成。你真的看到了，我稱之為技術基礎的重要性，因為它與這些 Customer 360 多雲部署相關。 MuleSoft 現在每天進行 48.6 億次集成交易。環比增長 28%。這是 Customer 360 的一個乏味但重要的部分，整合所有這些遺留系統，以便我們的客戶能夠在面對比以往任何時候都更快的經濟變化時更快地行動，我認為，真的表明我們收購的重要性，因為它關係到我們對 Customer 360 的整體價值主張。

Our next question comes from Keith Weiss with Morgan Stanley.

我們的下一個問題來自摩根士丹利的 Keith Weiss。

A great start to the year. It looks like there's a ton of momentum at Salesforce right now. Maybe one question for Marc and one for Amy. For Marc, there's been some investor debate on sort of to what degree digital transformations are really accelerating. A lot of other companies had a more mixed or difficult Q1. You guys seem to have really hit it out of the park this Q1. Can you tell us kind of your view on sort of how your customers are changing their investment profiles? And when is that going to hit? Is that something that is really a 2021 event? Or because of the big strategic nature of these deals, this could take some time to flush out? I guess I'm asking, how is the pipeline looking for these big strategic deals?

一年的美好開端。看起來 Salesforce 現在有很大的發展勢頭。也許一個問題要問馬克，一個問題要問艾米。對於 Marc 來說，投資者就數字化轉型真正加速的程度進行了一些爭論。許多其他公司的第一季度情況更加複雜或困難。你們似乎真的在這個第一季度把它擊出了公園。你能告訴我們你對你的客戶如何改變他們的投資概況的看法嗎？那什麼時候會發生？這真的是 2021 年的事件嗎？還是因為這些交易的重大戰略性質，這可能需要一些時間才能完成？我想我在問，管道是如何尋找這些重大戰略交易的？

And then the question for Amy. We were impressed when you sort of stuck it with 17.5% operating margins with the initial FY '22 guide. Now you're raising it another 50 basis points. Can you talk to us about does that come from sort of expenses being pushed out? Or is it just kind of -- is there actual kind of more efficiencies that you're finding in the business that enable you to raise the operating margin guide here?

然後是艾米的問題。當您在最初的 22 財年指南中堅持 17.5% 的營業利潤率時，我們印象深刻。現在你又提高了 50 個基點。你能和我們談談這是否來自被推出的某種費用？或者它只是一種 - 您在業務中發現的實際效率更高，使您能夠在這裡提高營業利潤率指南？

Well, I'm so excited that you're excited about Amy's new model. I mean I, by the way, am also -- I mean she -- I think Kash said it well. She has reimagined the business. She has rebalanced our ratios. She's figured out how to take these kind of changes that have occurred in the pandemic, which is less travel and less real estate and less events and kind of rebuilt the company from the bottom up. And I think that's where we're really starting to see Amy's genius kind of take place, which is that -- when I look at the revenue, $5.96 billion, up 23%, 20% in constant currency. The cash flow, $3.23 billion. But then when I really get down into this operating margin at 20.2% but also the ability to raise for the year, it really gets down to this new model that she's really pioneered and has installed in the company. And it's given us a fresh look at how we run our business and what we're going to do in the future, and how we think about the right balance between revenue and cash flow and margin.

嗯，我很興奮，你對艾米的新模特很興奮。順便說一句，我的意思是我也是——我的意思是她——我認為卡什說得很好。她重新構想了這項業務。她重新平衡了我們的比率。她想出瞭如何應對大流行中發生的這些變化，即減少旅行、減少房地產、減少活動，並從下到上重建公司。我認為這就是我們真正開始看到艾米的天才發生的地方，那就是——當我查看收入時，59.6 億美元，增長 23%，按固定匯率計算增長 20%。現金流，32.3億美元。但是當我真正了解這個 20.2% 的營業利潤率以及今年的融資能力時，它真的歸結為她真正開創並在公司安裝的這種新模式。它讓我們重新審視了我們如何經營我們的業務以及我們將在未來做什麼，以及我們如何思考收入、現金流和利潤率之間的正確平衡。

And the pandemic gave all of us the ability to reset our lives but also our businesses. And when we look at resetting our businesses, we also have to reset our financial models. And I think that this is the result of now 4 amazing quarters of this financial model emerging. And I think we're going to see that continue to pay out for the rest of the year and future years as well that we will benefit from this. And I don't think it's something that's getting pulled forward or pushed back or this or that. It's all 0-based from the bottom. So that's what's exciting, and it's a commitment that we have to a new model and a new approach. And also this idea, though, it's a new way to work.

大流行使我們所有人都有能力重新調整我們的生活以及我們的業務。當我們考慮重置我們的業務時，我們還必須重置我們的財務模型。我認為這是這種金融模型出現了四個驚人的季度的結果。而且我認為我們將看到在今年剩餘時間和未來幾年繼續支付，我們將從中受益。而且我不認為這是被向前拉或向後推或這樣或那樣的東西。從底部開始都是從 0 開始的。這就是令人興奮的地方，這是我們對新模式和新方法的承諾。不過，這個想法也是一種新的工作方式。

Now in regards to the customer focus, I think, well, we just have never seen customer demand like this, and we don't -- there's certain applications that we've been asked not to profile on the call, for example, in regards to some things that the U.S. government has done in terms of making sure that stimulus gets to the right place at the right time. And we were asked to do things in a matter of weeks. It's not just limited to our government. It's other governments. It's other businesses. I mean I've never seen, and I said this in the last couple of calls, so many, what I would call, emergency deployments. Usually, they say, hey, we like to have this in 6 months, 12 months, the most 18 months. That's one of the reasons they come to Salesforce.

現在關於以客戶為中心，我認為，好吧，我們只是從未見過這樣的客戶需求，而且我們沒有——有些應用程序被要求不要在通話中進行分析，例如，在關於美國政府在確保刺激措施在正確的時間到達正確的地點方面所做的一些事情。我們被要求在幾週內完成工作。它不僅限於我們的政府。是其他政府。是其他業務。我的意思是我從來沒有見過，我在最近幾次電話會議中說過這個，很多，我會稱之為緊急部署。通常，他們說，嘿，我們喜歡在 6 個月、12 個月、最多 18 個月內擁有它。這就是他們來到 Salesforce 的原因之一。

Very fast time to value, this is critical. But for us, they want instant time to value. We're like, wait, we have to build this in the cloud. We don't go -- we got to go. All right, we'll build. We'll build it. We'll deliver this. We'll make this happen for you. And I've been so fortunate to have Gavin really by my side during all of this. I mean everybody knows Gavin's tremendous lineage. And Gavin worked -- and I worked together, have been friends for more than a decade. But of course, as the CEO of BT, I was -- always admired his business process and business practice and his ability to bring discipline. But now watching him run our customer organization and what he's done now over the last year, that's just been a shock to me.

實現價值的時間非常快，這一點至關重要。但對我們來說，他們想要立即實現價值。我們就像，等等，我們必須在雲中構建它。我們不去——我們必須去。好吧，我們會建造的。我們將建造它。我們會提供這個。我們將為您實現這一目標。在這一切期間，我很幸運能有 Gavin 在我身邊。我的意思是每個人都知道加文的巨大血統。加文工作——我一起工作，已經是十多年的朋友了。但當然，作為英國電信的首席執行官，我一直很欽佩他的業務流程和業務實踐以及他帶來紀律的能力。但是現在看著他管理我們的客戶組織以及他在過去一年中所做的事情，這讓我感到震驚。

But Gavin, I think you should just kind of come in here because it's not just Amy, who's reimagined the financial model. You've reimagined the entire customer model and how we're going to market and the balance of sales and service, and you've reimagined the level of management that we have and where we're putting that management level of capacity, the relevance, the participation, I mean the enablement, these things that you've laid in. So would you just tell us -- give us what's happening on the customer side? And how do you see the market today?

但是加文，我認為你應該進來，因為不僅僅是艾米，他重新構想了財務模型。您重新構想了整個客戶模型以及我們如何進入市場以及銷售和服務的平衡，並且您重新構想了我們擁有的管理水平以及我們將管理水平的能力放在哪裡，相關性，參與，我的意思是啟用，這些你已經投入的東西。所以你能告訴我們——告訴我們客戶方面發生了什麼嗎？您如何看待今天的市場？

Well, thanks, Marc. It's -- as you say, it's been an absolutely stellar quarter, incredible quarter. And 3 words come to mind for me: relevance, investment and execution. Relevance is, I think, really, really clear. What we offer at the moment is what organizations around the world, be those companies or governments, it's what they're looking for to manage their business, and we see that in the new business pipeline. It's extraordinarily strong. Yes, we have a favorable compare, but if you look at the 2-year performance, it's really, really strong. And that's the key number to look at. We're not persuaded by just the year-on-year. It needs to be the 2-year performance with an easy compare. So I think taking advantage of the economy, the strength of investment going into the economy in many places around the world. We're perfectly placed to take advantage of that.

嗯，謝謝，馬克。這是 - 正如你所說，這是一個絕對出色的季度，令人難以置信的季度。我想到了三個詞：相關性、投資和執行。我認為，相關性非常非常明確。我們目前提供的是世界各地的組織，無論是那些公司還是政府，這是他們正在尋找來管理他們的業務的東西，我們在新的業務管道中看到了這一點。它異常強大。是的，我們有一個有利的比較，但如果你看看 2 年的表現，它真的非常強大。這是要看的關鍵數字。我們並沒有被去年同期所說服。它需要是 2 年的性能，並且易於比較。因此，我認為要利用經濟優勢，投資力量進入世界許多地方的經濟。我們完全有能力利用這一點。

I think the second thing is about investment. So in the mid part of last year, when we were restructuring the business, we also put new investment back into the business, particularly with capacity, and we're seeing the benefit of that now as we come into the year really strong, ready to take advantage of the strong economies we're seeing around the world. So being able to invest when others won't, I think, is a significant factor.

我認為第二件事是關於投資。所以在去年年中，當我們重組業務時，我們也將新的投資重新投入到業務中，尤其是產能方面，我們現在看到了它的好處，因為我們進入了非常強勁的一年，準備好了利用我們在世界各地看到的強大經濟體。因此，我認為能夠在其他人不會投資的情況下進行投資是一個重要因素。

And then the final thing is around execution. We had a really strong, I think, quarter because of the execution and the grip that we've got on the sales and service organization. We had a digital launch this year, and that meant we got all the quotas deployed very, very quickly. We've got more selling days into the quarter. We've got a flatter organization now, so there's really clear accountability throughout the business. And we've seen that turn into great results, great results both in terms of the run rate business but also particularly strong results in the big deals. And Marc talked about some of those numbers.

最後一件事是關於執行。我認為，由於我們對銷售和服務組織的執行力和控制力，我們有一個非常強勁的季度。今年我們進行了數字發布，這意味著我們很快就部署了所有配額。本季度我們有更多的銷售天數。我們現在有一個更扁平的組織，所以整個業務都有明確的責任。我們已經看到這變成了很好的結果，在運行率業務方面取得了很好的結果，而且在大宗交易中也取得了特別強勁的結果。馬克談到了其中一些數字。

So the business is really humming. The pipeline is super strong. It's across all clouds. It's across all geographies. There's a real strong focus on industries as well. The business is really, really pumping.

所以生意真的很火爆。管道超級強大。它跨越了所有的雲層。它遍及所有地區。對行業也有非常強烈的關注。生意真的很火爆。

And I really want to ask a follow-up question, Gavin, because you mentioned this, but I think it's important to illuminate this, which is Q1 was very much frictionless. We decided we're going to do digital kickoffs. We're going to get all of these -- the quotas and the territory assignments out as quickly as possible. You've really led this amazing program to do this and to make sure we have this fast start to the first quarter into the fiscal year. You brought a level of discipline into the sales org I've never seen before. So I never really understood how the British did it. So let me just -- if you just fill in the detail there in terms of the velocity of the distribution organization is just incredible.

我真的想問一個後續問題，加文，因為你提到了這一點，但我認為闡明這一點很重要，第一季度非常順利。我們決定進行數字啟動。我們將盡快完成所有這些——配額和領土分配。你真的領導了這個了不起的計劃來做到這一點，並確保我們在本財政年度的第一季度快速開始。你為我以前從未見過的銷售組織帶來了一定程度的紀律。所以我從來沒有真正理解英國人是怎麼做到的。所以讓我 - 如果你只是在分銷組織的速度方面填寫細節，那真是令人難以置信。

Well, I think this is one of the silver clouds that's come out of the pandemic, is that we couldn't meet face to face. So we have to do everything digitally, but that meant we got out of the blocks really, really fast. It meant that we're able to compress the launch of the year into about a week. It gave us more 7 days, made sure that everybody was clear what they had to achieve. Their goals were deployed earlier in the year, and that meant we're able to focus on our customers. And that's the most important thing we do.

好吧，我認為這是大流行中出現的銀雲之一，就是我們無法面對面。所以我們必須以數字方式做所有事情，但這意味著我們真的非常非常快地擺脫了障礙。這意味著我們能夠將一年的發佈時間壓縮到大約一周。它給了我們更多的 7 天時間，確保每個人都清楚他們必須實現的目標。他們的目標是在今年早些時候部署的，這意味著我們能夠專注於我們的客戶。這是我們做的最重要的事情。

And when the demand is there, which is the case at the moment, there is undoubtedly demand for our products. The key is making sure that your turf, your customers and you're there helping them solve their problems. It's been about execution.

當需求出現時，目前就是這種情況，我們的產品無疑是有需求的。關鍵是確保您的地盤、您的客戶和您在那裡幫助他們解決問題。這是關於執行的。

It's inspiring, Gavin. And I'll tell you, we've had a lot of great distribution leaders in our company and a lot of great people by my side over the last 2 decades, who have been running this distribution organization, but you've just done an incredible job. And I just want to congratulate you on not only a great year last year but now just this amazing first quarter and the execution you've done.

這很鼓舞人心，加文。我會告訴你，在過去的 20 年裡，我們公司有很多優秀的分銷領導者，還有很多優秀的人在我身邊，他們一直在運營這個分銷組織，但你剛剛做了一個不可思議的工作。我只想祝賀你不僅去年是偉大的一年，而且現在只是這個驚人的第一季度和你所做的執行。

Amy, do you want to just come in here now, go into details? Because this velocity that Gavin has given us, well, now you're really paying it out with this new model, aren't you?

艾米，你想現在就進來，詳細說一下嗎？因為 Gavin 給我們的速度，嗯，現在你真的用這個新模型付出了代價，不是嗎？

So it's terrific. And Keith, thanks for the question. As you know, very, very pleased to raise from 17.7% up to 18%, so a 30 point -- basis point improvement for the year. This is not a pushout. What it really is it's a combination of a few things. First, it's the great quarter that Gavin just described, and having such terrific revenue, this really gives us some additional room to operate this year.

所以太棒了。和基思，謝謝你的問題。如您所知，非常非常高興從 17.7% 提高到 18%，因此今年提高了 30 個基點。這不是推脫。它實際上是幾件事的組合。首先，這是 Gavin 剛剛描述的偉大季度，並且擁有如此可觀的收入，這確實為我們今年提供了額外的運營空間。

It's also a focus on what we've learned about how we're working. We learned a lot over the past year. Gavin pointed out, having a virtual PKO and kickoff led to different efficiencies and also led to savings. And then finally, it is a renewed focus on efficiencies and discipline around the company.

它還關注我們對工作方式的了解。在過去的一年裡，我們學到了很多東西。 Gavin 指出，擁有虛擬 PKO 和啟動會帶來不同的效率，也可以節省開支。最後，它重新關注公司周圍的效率和紀律。

Our next question comes from Brent Thill with Jefferies.

我們的下一個問題來自 Jefferies 的 Brent Thill。

Maybe a question for Gavin. The Americas saw an acceleration, but Europe and APAC saw a slight deceleration. And I know that's reported revenue, but I'm just curious if you could talk to what you're seeing outside the U.S. and recovering. Obviously, the lag would make sense there but what you're seeing in pipeline beyond the U.S.

也許是加文的問題。美洲出現加速，但歐洲和亞太地區出現輕微減速。我知道這是報告的收入，但我只是好奇你是否可以談談你在美國以外看到的情況並正在復蘇。顯然，滯後在那裡是有道理的，但是你在美國以外的管道中看到的東西

Look, the recovery from the pandemic is not at the same stage in every market. I think that's fair to say. But our business is strong. The new business has been strong across the board. There might be 1 point or 2 difference region by region, but there are no, what I would call, weaknesses across our global organization. So we do see strength across the board, and we see a strong pipeline importantly across the board. So I wouldn't read into anything. I'll point difference here or there. I'm very confident that this growth in the U.S. but also outside the U.S. and around the world.

看，從大流行中復蘇並不是每個市場都處於同一階段。我認為這樣說是公平的。但我們的業務很強大。新業務全面發展。每個地區可能存在 1 分或 2 分的差異，但我認為，我們的全球組織沒有弱點。因此，我們確實看到了全面的實力，並且我們看到了一條重要的強大管道。所以我不會讀任何東西。我會在這里或那裡指出差異。我對這種增長在美國以及美國以外和世界各地都非常有信心。

And I'll give you a point of evidence on that, which is that Gavin and I brought our top distribution leaders together in person last week with Bret. And we can't bring them all in person. So some of them are just not allowed in the United States. We just can't get them here. But for the ones that can come in like Gavin, for example, or others, we even were able to bring in some of our European executives. Wow, I mean, it was really a position of confidence. It was feeling like there is a tremendous market that has built over last year that I think people realize that they must be digital, but they must be digital with their customers. It's not just digital transformation. It's digital customer transformation. That's where the power is, I believe, in the market, especially right now. And I love that Sonos story because it's point of evidence on that. Would you agree?

我會給你一個證據，那就是 Gavin 和我上週與 Bret 親自召集了我們的頂級分銷負責人。而且我們不能親自帶他們來。所以他們中的一些人在美國是不允許的。我們只是不能把他們帶到這裡。但是對於像 Gavin 或其他人這樣可以進來的人，我們甚至能夠引進一些歐洲高管。哇，我的意思是，這真的是一個自信的立場。感覺就像去年建立了一個巨大的市場，我認為人們意識到他們必須是數字化的，但他們必須與他們的客戶一起數字化。這不僅僅是數字化轉型。這是數字客戶轉型。我相信，這就是市場的力量所在，尤其是現在。我喜歡 Sonos 的故事，因為它是這方面的證據。你會同意嗎？

Yes, absolutely. The Sonos story is a perfect case study in many ways. And I think it demonstrates the ability for us to help customers transform quickly. I mean this was a pivot that Sonos needed to make right at the height of the pandemic, and we were able to help them transform their business and manage through the pandemic and come out a stronger business, closer to their customers and be extremely well placed to continue to grow in the next few quarters.

是的，一點沒錯。 Sonos 的故事在很多方面都是一個完美的案例研究。我認為這證明了我們幫助客戶快速轉型的能力。我的意思是，這是 Sonos 在大流行最嚴重的時候需要做出的一個支點，我們能夠幫助他們轉變業務並通過大流行進行管理，打造出更強大的業務，更接近他們的客戶並且處於非常有利的位置未來幾個季度將繼續增長。

Our next question comes from Alex Zukin with Wolfe Research.

我們的下一個問題來自 Wolfe Research 的 Alex Zukin。

Sorry, I was on mute. Congrats on a great quarter. Maybe, Amy, first for you. You reimagined the operating model and rebuilt it from the ground up, as Marc said, where have you found the lowest hanging fruit from an operational efficiency perspective that you're looking to leverage going forward? And for Marc, you've been through recoveries before you've been through downturns before. How strong is the demand right now versus the past recoveries you've seen and your best guess looking on a global basis, how long it lasts?

對不起，我靜音了。祝賀一個偉大的季度。也許，艾米，首先給你。正如 Marc 所說，您重新構想了運營模式並從頭開始對其進行了重建，從運營效率的角度來看，您在哪裡找到了您希望在未來加以利用的最低實現目標？對於馬克來說，你在經歷過低迷之前就已經經歷過復甦。與您所看到的過去的複蘇以及您在全球範圍內的最佳猜測相比，現在的需求有多強勁，它會持續多長時間？

So thanks for the question. I think the lowest hanging fruit is -- clearly are different in how we are working right now. It's this all-digital work from anywhere. Probably the easiest part on that is the difference in T&E. That clearly has gone way down. We are assuming, for purposes of guidance, some modest return of travel in the second half of this year. But it will be nowhere near where we were pre-pandemic. We've simply learned how to work effectively and how to serve our customers effectively without being on a plane every day.

所以謝謝你的問題。我認為最容易實現的結果是——顯然我們現在的工作方式有所不同。這是來自任何地方的全數字化作品。可能最簡單的部分是 T&E 的差異。這顯然已經下降了很多。出於指導目的，我們假設今年下半年旅行會適度恢復。但這與我們大流行前的情況相去甚遠。我們只是學會瞭如何有效地工作以及如何有效地為我們的客戶服務，而無需每天都在飛機上。

Well, I'll tell you that you're right. I mean this was the best quarter we've ever had, and I can tell you from bringing these distribution leaders in, I've never seen a pipeline like this or the ability in every market to execute with such robustness. And I think the CEOs -- I mean I'll tell you from my own. Obviously, we invested last year. We didn't pull back. We knew we had to go for it. And we had to go all out.

好吧，我會告訴你，你是對的。我的意思是這是我們有史以來最好的一個季度，我可以告訴你，通過引入這些分銷領導者，我從未見過像這樣的管道或每個市場都有如此穩健執行的能力。我認為首席執行官 - 我的意思是我會告訴你我自己的。顯然，我們去年投資了。我們沒有退縮。我們知道我們必須去做。我們必須全力以赴。

And it's counterintuitive. The world is ending, and you have to say, well, you got to go all out and realize that the world is not going to be ending in a year from now. And it's hard when you're in it because people start to panic. It's a normal human reaction. I mean we even had executives in Salesforce who came in and said; "Oh, we've got to cut. We got to do this. We have to do that." We reshaped. There's no question, we did some slight reshaping, but we didn't do any massive layoffs or anything like that of any consequence that I would say, oh, we really tried to cut dramatically in some area or whatever. It was like, no, we need to reshape to grow. We need to invest to grow. We need to do the things that we need to do as a company. And that's a year ago.

這是違反直覺的。世界正在結束，你不得不說，好吧，你必須全力以赴，意識到世界不會在一年後結束。當你身處其中時很難，因為人們開始恐慌。這是正常的人類反應。我的意思是，我們甚至有 Salesforce 的高管進來說； “哦，我們必須削減。我們必須這樣做。我們必須這樣做。”我們重塑了。毫無疑問，我們進行了一些輕微的調整，但我們沒有進行任何大規模裁員或任何類似的事情，我會說，哦，我們真的試圖在某些領域或其他地方大幅削減。就像，不，我們需要重塑才能成長。我們需要投資以實現增長。作為一家公司，我們需要做我們需要做的事情。那是一年前的事了。

So a year ago, it was a decision based on experience that is we have seen it, whether it was the recession of 2001 or the financial disasters of 2008. Those are just moments. They're moments in time, but in the history of the company or if you look at the history of the equity from 2004 when we went public, you got to keep going. And that moment is the time to go because, in many cases, your competitors are pulling back because they're afraid. And when your competitors are afraid, that's when you need to invest, and that's where you really need to grow.

因此，一年前，無論是 2001 年的經濟衰退還是 2008 年的金融災難，都是基於經驗做出的決定。那些只是瞬間。它們是及時的，但在公司的歷史中，或者如果您查看 2004 年我們上市時的股權歷史，您必須繼續前進。那一刻是時候離開了，因為在很多情況下，你的競爭對手因為害怕而退縮了。當你的競爭對手害怕的時候，那是你需要投資的時候，那才是你真正需要成長的地方。

And I'll tell you, I think that, that's what Gavin did, that Gavin came in and he reshaped. He took out some -- took out some cost. He advanced certain areas. He rebalanced his org and was able to provide greater market coverage and expanding his capacity, capability and I think at levels I haven't seen in a long time. So do you want to just fill in the details?

我會告訴你，我認為，這就是加文所做的，加文進來並重塑了他。他拿出了一些——拿出了一些成本。他推進了某些領域。他重新平衡了他的組織，能夠提供更大的市場覆蓋率並擴大他的能力和能力，我認為達到了我很長時間沒有見過的水平。所以你只想填寫詳細信息嗎？

Well, anyways, I think you've made the point very well there, Marc. I mean it was the -- probably the most difficult point in the last 12 months, where everybody else was making cuts, we reshaped the business and created more capacity knowing that the demand would come back, and it takes a few months for new capacity to come online and become productive. But what that decision allowed us to do was enter the year with a really strong market coverage up significantly year-on-year. And I think it's helped us get off to a really strong start and take advantage of the demand that is undoubtedly there for the Customer 360.

好吧，無論如何，我認為你已經很好地表達了這一點，馬克。我的意思是，這可能是過去 12 個月中最困難的時刻，其他人都在削減開支，我們重塑業務並創造更多產能，因為知道需求會回來，而新產能需要幾個月的時間上網並變得富有成效。但這個決定讓我們做的是進入這一年，市場覆蓋率同比大幅上升。我認為它幫助我們取得了一個非常好的開端，並利用了對 Customer 360 無疑存在的需求。

Well, I'll tell you, I think to add to that, I mean, you look at what Bret has done this year. I mean Bret really led and executed this amazing reshaping plan. He rebuilt the kind of the company overall, really looking at where are we balancing our resource and also architecting our Slack acquisition. Bret was at the tip of the spear on both of those, making sure that we're prepared for the future with the business plan and the reshaping plan that we needed and the technology plan and the technology vision.

好吧，我會告訴你，我想補充一下，我的意思是，你看看布雷特今年做了什麼。我的意思是布雷特真的領導並執行了這個驚人的重塑計劃。他重建了整個公司的那種類型，真正著眼於我們在哪里平衡我們的資源，並構建了我們對 Slack 的收購。 Bret 在這兩個方面都處於領先地位，確保我們為未來做好準備，制定我們需要的商業計劃和重塑計劃，以及技術計劃和技術願景。

Then Amy came in and she said, no, we're going to rebuild the fundamental financial plan as well, and we're going to couple that financial plan from the bottom up and build a new revenue plan and a new cash flow and margin plan. And you see that now. And then we had Gavin come in and say this is how we're going to rebuild the distribution organization. And I think these 3 tiers all coming together really are what you see today.

然後艾米進來了，她說，不，我們也將重建基本財務計劃，我們將自下而上地結合該財務計劃並建立新的收入計劃以及新的現金流和利潤計劃。你現在看到了。然後我們讓 Gavin 進來並說這就是我們要重建分銷組織的方式。而且我認為這 3 層真正融合在一起就是您今天所看到的。

And when you look at these numbers, when you look at a company that's going to do now over $26 billion in revenue this year, look, there's only been a couple of enterprise software companies in history have done that. You know that. And this is a big moment for us, $26 billion. But you know, because you have your models and you have your spreadsheets and you have your formulas and you see our growth rates, you can start to project out and see where we're going not only this year and next year but as we're projecting out to our $50 billion number, which obviously we're excited about and we're thrilled.

當您查看這些數字時，當您查看一家今年的收入將超過 260 億美元的公司時，您會發現歷史上只有幾家企業軟件公司做到了這一點。你知道的。這對我們來說是一個重要的時刻，260 億美元。但是你知道，因為你有你的模型，你有你的電子表格，你有你的公式，你看到了我們的增長率，你可以開始預測，看看我們不僅今年和明年的發展方向，而且隨著我們重新預測到我們 500 億美元的數字，顯然我們對此感到興奮和激動。

Ladies and gentlemen, we have reached the end of the allotted time for questions and answers. I will turn the call back over to Evan Goldstein for closing remarks.

女士們，先生們，我們已經到了規定的問答時間。我將把電話轉回給埃文·戈德斯坦（Evan Goldstein）做閉幕詞。

Thank you for joining us on the call today. If you have any follow-up questions, please e-mail us at investor@salesforce.com. Look forward to speaking with you next quarter. Thank you.

感謝您今天加入我們的電話會議。如果您有任何後續問題，請發送電子郵件至investor@salesforce.com。期待下個季度與您交談。謝謝你。

And see you at Dreamforce, everyone. Bye-bye.

大家在 Dreamforce 見。再見。

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

今天的電話會議到此結束。感謝您的參與。您現在可以斷開連接。