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CLAIM #17173 · Salesforce.com Inc (CRM) · 2024Q2 earnings call · Aug 30, 2023 · due Aug 30, 2024

I certainly expect that to abate, especially as customers begin to adopt these new AI technologies and understand they need to invest and grow to be able to achieve this kind of next level of productivity.

Marc Benioff · CEO

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versus commitment · official band 5 percent
Committed
I certainly expect that to abate, especially as customers begin to adopt these new AI technologies
Reported
Q3 revenue attrition ended the quarter slightly above 8%, in line with recent quarters

In context

h and congratulations. Marc Benioff: Kash, thanks so much, and we're looking forward to seeing you at Dreamforce. We're really excited, and I think you're going to be super excited when you see these new AI products. And when we talk about growth, I think it's going to start with AI. I think that AI is about to really ignite a buying revolution. I think we've already started to see that with our customers and even some of these new companies like OpenAI. And we certainly see that in our customers' base as well. I think you also know we've definitely seen in the last several quarters a measured buying environment, that's also been true, not just at Salesforce, but I think for the vast majority of our peers that you follow. And I think that you've also called that out a number of times. And I certainly expect that to abate, especially as customers begin to adopt these new AI technologies and understand they need to invest and grow to be able to achieve this kind of next level of productivity. Now all that said, we've also seen this amazing growth in a number of our core technologies and our products, and I would especially like to call out the incredible success of MuleSoft over the last several quarters because that is a product that is far exceeded our expectations, especially and including several of our geographies as well. So this is not something that is quite permeated everywhere, but there are some isolated areas. And I really think that Dreamforce is going to become a catalyst for our customers to see this opportunity to grow with us to see these new products, these new technologies. Data Cloud is just one example of many new areas that Salesforce investments can happen with customers. And I'm sure that as they start to reignite their IT buying budgets in this kind of

Verify independently

SEC filings for CRM · Claim quote is verbatim from the 2024Q2 earnings call.