Q: What is Salesforce (CRM) Q3 2024 Earnings Call Transcript Summary?
Salesforce.com (CRM) recently held its Q3 2024 earnings call, during which the company reported both positive and negative aspects of its performance. Here are the key takeaways from the call:
Bullish Points:
1. Double-digit revenue growth and non-GAAP margin exceeding 30%.
2. $8.7 billion quarter, 31.2% margin, and $34.8 billion fiscal year '24.
3. 80% growth in deals more than $1 million.
4. 1,000 new Data Cloud customers.
5. 17% of the Fortune 100 are now Einstein GPT Copilot customers.
6. $1.5 billion in cash flow, up about 1,000%.
7. Third largest enterprise software company by revenue.
8. Nine of the top 10 deals included six or more clouds.
9. Non-GAAP operating margin for the quarter was 31.2%, up 850 basis points year over year.
10. Operating cash flow for the third quarter was $1.5 billion, up 389% year over year.
Bearish Points:
1. Macro trends affecting professional services business, create and close sales motion, and Slack self-service business.
2. Professional services headwinds of one point to CRPO growth.
3. Continued measured customer buying behavior.
4. AI technology still has limitations and safety concerns.
5. Uncertainty in the global economic environment.
6. No material impact from pricing in the guide this year.
7. Uplift from pricing needs to roll for the full renewal installed base, which will take time.
For more information about Salesforce.com's earnings call, you can read the relevant news: Salesforce (CRM) Q3 2024 Earnings Call Transcript
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