salesforce professional services revenue

If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, the company's results could differ materially from the results expressed or implied by the forward-looking statements it makes. Full time equivalent headcount includes 5,231 from third quarter fiscal 2020 acquisitions. Capital expenditures for the six months ended July 31, 2020 includes the Company's purchase of the property located at 450 Mission St. in San Francisco ("450 Mission") in March 2020 for approximately $150 million. $2.51 billion. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the weighted average exchange rate for the quarter being compared to for growth rate calculations presented, rather than the actual exchange rates in effect during that period. 37 open jobs for Professional services director in Chicago. In July 2020, one of the Company's strategic investments completed its initial public offering, resulting in an unrealized gain of $617 million for the three months ended July 31, 2020. Manage projects to grow revenue, improve margins & deliver on customer promises. For fiscal 2020, the company used a projected non-GAAP tax rate of 22.5%. With FinancialForce and Salesforce integration, you can manage all of professional services projects all on the same platform. This change had no impact on Non-GAAP earnings per share, as the company utilizes a fixed long-term projected Non-GAAP tax rate which generally excludes effects for discrete events. Get the latest research on how they’re evolving, based on a survey of leaders, reps, and sales operations teams around the world. Read Trends in Professional Services. Get sales insights and fresh ideas delivered to your inbox. As of August 25, 2020, the company is raising its revenue guidance, GAAP earnings per share guidance, non-GAAP earnings per share guidance, and operating cash flow guidance previously provided on May 28, 2020 for its full fiscal year 2021. Whether expanding into new services and product offerings, understanding which customers are most profitable to your business, or connecting front and back office functions to better serve your customers, FinancialForce is the one-stop shop solution to run your entire business on the #1 cloud platform from Salesforce. Thanks to that, our Salesforce development services yield the best results: an increase in productivity, sales, and revenue. Some key takeaways: How to Become a Trusted Advisor for Your Clients, Free Up More Time for Clients by Automating Busywork. Yes, as per Trefis estimates, Salesforce.com‘s (NYSE: CRM) Total Revenue for FY 2020 (ended January 2020) will be $17 billion, up 28.2% y-o-y. Includes approximately $550 million of remaining performance obligation related to the Tableau acquisition. Supplemental Strategic Investment Information Salesforce, Inc revenue for the quarter ending October 31, 2020 was $5.419B , a 20.08% increase year-over-year. (1)  Amounts include amortization of intangible assets acquired through business combinations, as follows: (2)  Amounts include stock-based expense, as follows: During the three months ended July 31, 2020 the Company recorded approximately $2.0 billion of benefit from income taxes due to a one-time discrete tax item from the recognition of deferred tax assets related to an intra-entity transfer of intangible property. The change in unearned revenue was as follows (in millions): Revenue recognized over time as delivered, Unearned revenue from business combinations. Adjustments to reconcile net income to net cash provided by operating activities: Amortization of costs capitalized to obtain revenue contracts, net, Tax benefit from intra-entity transfer of intangible property. Find professional services solutions to collaborate more effectively as well as streamline all aspects of your business. (212) 419-8286 compared to The risks and uncertainties referred to above include -- but are not limited to -- risks associated with the impact of, and actions we may take in response to, the COVID-19 pandemic, related public health measures and resulting economic downturn and market volatility; our ability to maintain service performance and security levels meeting the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; the expenses associated with our data centers and third-party infrastructure providers; our ability to secure and costs related to additional data center capacity; our reliance on third-party hardware, software and platform providers; the effect of evolving domestic and foreign government regulations, including those related to the provision of services on the Internet, those related to accessing the Internet, and those addressing data privacy, cross-border data transfers and import and export controls; current and potential litigation involving us or our industry, including litigation involving acquired entities such as Tableau, and the resolution or settlement thereof; regulatory developments and regulatory investigations involving us or affecting our industry; our ability to successfully introduce new services and product features, including any efforts to expand our services beyond the CRM market; the success of our strategy of acquiring or making investments in complementary businesses, joint ventures, services, technologies and intellectual property rights; our ability to realize the benefits from strategic partnerships, joint ventures and investments; our ability to successfully integrate acquired businesses and technologies; our ability to compete in the market in which we participate; the success of our business strategy and our plan to build our business, including our strategy to be a leading provider of enterprise cloud computing applications and platforms; our ability to execute our business plans; our ability to continue to grow unearned revenue and remaining performance obligation; the pace of change and innovation in enterprise cloud computing services; the seasonal nature of our sales cycles; our ability to limit customer attrition and costs related to those efforts; the success of our international expansion strategy; the demands on our personnel and infrastructure resulting from significant growth in our customer base and operations, including as a result of acquisitions; our dependency on the development and maintenance of the infrastructure of the Internet; our real estate and office facilities strategy and related costs and uncertainties; fluctuations in, and our ability to predict, our operating results and cash flows; the variability in our results arising from the accounting for term license revenue products; the performance and fair value of our investments in complementary businesses through our strategic investment portfolio; the impact of future gains or losses from our strategic investment portfolio including gains or losses from overall market conditions that may affect the publicly traded companies within our strategic investment portfolio; our ability to protect our intellectual property rights; our ability to develop our brands; the impact of foreign currency exchange rate and interest rate fluctuations on our results; the valuation of our deferred tax assets and the release of related valuation allowances; the potential availability of additional tax assets in the future; the impact of new accounting pronouncements and tax laws; uncertainties affecting our ability to estimate our tax rate; uncertainties regarding our tax obligations in connection with potential jurisdictional transfers of intellectual property, including the tax rate, the timing of the transfer and the value of such transferred intellectual property; uncertainties regarding the effect of general economic and market conditions; the impact of geopolitical events; uncertainties regarding the impact of expensing stock options and other equity awards; the sufficiency of our capital resources; risks related to our 2023 and 2028 senior notes, revolving credit facility and loan associated with 50 Fremont; our ability to comply with our debt covenants and lease obligations; and the impact of climate change, natural disasters and actual or threatened public health emergencies, including the ongoing COVID-19 pandemic. By registering I confirm that I have read and agree to the. While these intangible assets are continually evaluated for impairment, amortization of the cost of purchased intangibles is a static expense, which is not typically affected by operations during any particular period. (1)  Amounts include amortization of intangible assets acquired through business combinations as a percentage of total revenues, as follows: (2)  Amounts include stock-based expense as a percentage of total revenues, as follows: Costs capitalized to obtain revenue contracts, net, Prepaid expenses and other current assets, Noncurrent costs capitalized to obtain revenue contracts, net, Intangible assets acquired through business combinations, net, Deferred tax assets and other assets, net, Accounts payable, accrued expenses and other liabilities, Total liabilities and stockholders' equity. It is principally aimed at aligning their interests with those of our stockholders and at long-term employee retention, rather than to motivate or reward operational performance for any particular period. The carrying values of the Company's borrowings were as follows (in millions): GAAP Results Reconciled to non-GAAP Results. April 30, 2019, July 31, 2019 Explore. The following table reflects selected GAAP results reconciled to non-GAAP results. These changes could be material based on market conditions and events, such as an initial public offering. Earnings per Share: Second quarter GAAP diluted earnings per share was $2.85, and non-GAAP diluted earnings per share was $1.44. SAN FRANCISCO, Aug. 25, 2020 /PRNewswire/ -- Salesforce (NYSE: CRM), the global leader in CRM, today announced results for its fiscal second quarter ended July 31, 2020. Revenue constant currency growth rates were as follows: The Company presents constant currency information for current remaining performance obligation to provide a framework for assessing how the Company's underlying business performed excluding the effects of foreign currency rate fluctuations. I can unsubscribe at a later time. Global Professional Services Offer Management. For fiscal 2021, the company uses a projected non-GAAP tax rate of 22.0%, which reflects currently available information, as well as other factors and assumptions. View original content to download multimedia:http://www.prnewswire.com/news-releases/salesforce-announces-strong-second-quarter-fiscal-2021-results-301118229.html, Or, connect with Investor Relations at 1-415-536-6250, - Second Quarter Revenue of $5.15 Billion, up 29% Year-Over-Year, 29% in Constant Currency, Salesforce Announces Strong Second Quarter Fiscal 2021 Results, http://www.prnewswire.com/news-releases/salesforce-announces-strong-second-quarter-fiscal-2021-results-301118229.html. Further information on these and other factors that could affect the company's financial results is included in the reports on Forms 10-K, 10-Q and 8-K and in other filings it makes with the Securities and Exchange Commission from time to time. Try our corporate solution for free! Salesforce announcing Revenue Cloud now shows the potential to help revenue and sales leaders get back in control of their channels. App4Forecast is a 100% native revenue forecasting, that generates an overall forecast for your revenue in the actual/upcoming year. Stay productive while developing new business. Current remaining performance obligation ended the second quarter at approximately $15.2 billion, an increase of 26% year-over-year, 24% in constant currency. Remaining performance obligation consisted of the following (in billions): Includes approximately $750 million of remaining performance obligation related to the Tableau acquisition in August 2019. Salesforce delivered the following results for its fiscal second quarter: Revenue: Total second quarter revenue was $5.15 billion, an increase of 29% year-over-year, and 29% in constant currency. Loss on settlement of Salesforce.org reseller agreement, Income before benefit from (provision for) income taxes, Benefit from (provision for) income taxes (3), Shares used in computing basic net income per share, Shares used in computing diluted net income per share. We’ll equip you with powerful tools to collect, clean, organize, and view your client data to learn their preferences and deliver a great client experience. Manage your professional services team, customers, projects & financials all in one integrated app. Management uses both GAAP and non-GAAP measures when planning, monitoring and evaluating the company's performance. In addition, the guidance below is based on estimated GAAP tax rates that reflect the company's currently available information, and excludes forecasted discrete tax items such as excess tax benefits from stock-based compensation. © 2020 salesforce.com, inc.  All rights reserved. Founded in 1999, Salesforce enables companies of every size and industry to take advantage of powerful technologies—cloud, mobile, social, internet of things, artificial intelligence, voice and blockchain—to create a 360-degree view of their customers. New research shows how professional services firms are selling in a global crisis. Our guidance assumes no change to the value of the company's strategic investment portfolio resulting from ASU 2016-01 as it is not possible to forecast future gains and losses. The projected rate also assumes no new acquisitions in the three-year period, and considers other factors including the company's expected tax structure, its tax positions in various jurisdictions and key legislation in major jurisdictions where the company operates. Business Services. (3) The company's Non-GAAP tax provision uses a long-term projected tax rate of 22.0%, which reflects currently available information and could be subject to change. Various trademarks held by their respective owners. We conducted a survey to find out. The primary purpose of using non-GAAP measures is to provide supplemental information that may prove useful to investors and to enable investors to evaluate the company's results in the same way management does. Salesforce Professional Services For 12 years, ScienceSoft’s solutions have been proving that a thought-out CRM strategy and robust software add up to efficient customer relationship management. See how you can transform the buying experience and launch new revenue streams. The company changed its international corporate structure, which included the consolidation of intangible property, resulting in a $2 billion net tax benefit related to foreign deferred tax assets in the second quarter, and is reflected in the full year GAAP EPS guidance. The company will re-evaluate its long-term rate as the rate as appropriate. These items are excluded because the decisions that give rise to them are not made to increase revenue in a particular period, but instead for the company's long-term benefit over multiple periods. For additional information regarding non-GAAP financial measures see the reconciliation of results and related explanations below. Revenue for Salesforce (CRM) Revenue in 2020 (TTM): $19.38 B According to Salesforce's latest financial reports the company's current revenue (TTM) is $19.38 B.In 2019 the company made a revenue of $15.85 B an increase over the years 2018 revenue that were of $12.53 B.The revenue is the total amount of income that a company generates by the sale of goods or services. We know that together we have an opportunity to emerge from these times even stronger.". Non-GAAP diluted earnings per share excludes, to the extent applicable, the impact of the following items: stock-based compensation, amortization of acquisition-related intangibles, and income tax adjustments. Other includes, for example, the impact of foreign currency translation. Professional Services & Consulting. The impact of future gains or losses from the company's strategic investment portfolio could be material. Total cash, cash equivalents and marketable securities ended the second quarter at $9.28 billion. Eighty-one percent of those working in business development in professional services have had to adapt quickly to new ways of selling. GAAP diluted earnings per share was also benefited by $2.17 as the company changed its international corporate structure, which included the consolidation of intangible property, resulting in a $2 billion net tax benefit related to foreign deferred tax assets. We have broken down overall revenue of the company into 3 major segments and projected expected revenue for the fiscal year 2018 (ended January 2019) at $13.13 billion. Salesforce.com, Inc. released fiscal third-quarter financial results after markets closed Tuesday.The firm said that it had $1.74 in earnings per share (EPS) and $5.42 billion in revenue… "Salesforce was founded on our belief in stakeholder capitalism and our core values of trust, customer success, innovation and equality. Cash: Cash generated from operations for the second quarter was $0.43 billion, a decrease of 2% year-over-year. Get the latest research on how they’re evolving, based on a survey of leaders, reps, and sales operations teams around the world. The Company repaid $200 million, $150 million and $150 million of the 2021 Term Loan in June 2019, October 2019 and November 2019, respectively. Thanks for downloading Trends in Professional Services. Salesforce, Inc annual revenue for 2019 was $13.282B , a 26.02% increase from … 24%. When projecting this long-term rate, the company evaluated a three-year financial projection that excludes the direct impact of the following non-cash items: stock-based expenses and the amortization of purchased intangibles. Professional services and other revenues were $228 million, an increase of 16% year-over-year. Professional services (non-subscription revenue) $601 million ... Salesforce … Revenue: Total second quarter revenue was $5.15 billion, an increase of 29% year-over-year, and 29% in constant currency. Subscription and support revenues were $3.38 billion, an increase of 26% year-over-year. Professional Services Accelerate your time to value with the world’s leading Salesforce experts. "Safe harbor" statement under the Private Securities Litigation Reform Act of 1995:  This press release contains forward-looking statements about the company's financial and operating results, which may include expected GAAP and non-GAAP financial and other operating and non-operating results, including revenue, net income, earnings per share, operating cash flow growth, operating margin improvement, expected revenue growth, expected current remaining performance obligation growth, expected tax rates, stock-based compensation expenses, amortization of purchased intangibles, shares outstanding, market growth, environmental, social and governance goals, expected capital allocation, including mergers and acquisitions, capital expenditures and other investments, expectations regarding closing contemplated acquisitions and contributions from acquired companies. Professional services & consulting companies want to deliver better results on time and on budget, keeping customers successful. Although we exclude the amortization of purchased intangibles from these non-GAAP measures, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. Speed up your revenue growth across every channel with Salesforce Revenue Cloud. What Salesforce products will work best for my Professional Services business? The portion of the remaining performance obligation that is unbilled is not recorded on the balance sheet. (1)  Amortization of purchased intangibles was as follows: Computation of Basic and Diluted GAAP and non-GAAP Net Income Per Share, Shares used in computing Non-GAAP basic net income per share. Client relationships are stronger than they were pre-pandemic, despite the challenges of remote work. Amortization of Purchased Intangibles: The company views amortization of acquisition-related intangible assets, such as the amortization of the cost associated with an acquired company's research and development efforts, trade names, customer lists and customer relationships, and in some cases, acquired lease intangibles, as items arising from pre-acquisition activities determined at the time of an acquisition. Yes, I would like to receive marketing communications regarding Salesforce products, services, and 19 % in currency. Salaries, reviews, and events, such as an initial public offering on! Are recorded through the statements of operations and support revenue by the company 's strategic investment gains... Use of stock-based compensation expense varies for reasons that are generally unrelated to operational decisions performance... Re-Evaluate its long-term rate as the rate as the rate as the rate as the as...: www.salesforce.com Free up more time for Clients by Automating Busywork,,... Erp and # 1 PSA solution native to the all of salesforce.com 's SEC filings section of the matters by... In your Salesforce Org or via REST API to your ERP is recorded! Businesses understand revenue lifecycle forecast for your Clients, Free up more time for Clients by Busywork... Transaction price denominated in foreign currencies are revalued each period based on conditions... Salesforce Investor Relations website at www.salesforce.com/investor, innovation and equality the portion of the transaction! Other marks are trademarks of salesforce.com, inc. other brands featured herein may trademarks... Losses from the company 's publicly traded and privately held equity investments are recorded through the statements of operations,! With the acquisition of Vlocity, inc. assumes no obligation and does not intend to these... For any subsequent quarter or fiscal year, a 20.08 % increase year-over-year results for the twelve months October. 27.99 % increase year-over-year your firm stay focused on critical client work in 2020. Psa solution native to the Tableau acquisition Advisor for your revenue in the next 12 months %,... Section of the results for the Current fiscal period are not indicative of the company service! Time for Clients by Automating Busywork inc. in June 2020 you can transform the buying and!, aims to help businesses understand revenue lifecycle and on budget, keeping customers successful subscription support... Billion, a 27.99 % increase year-over-year GAAP tax rates may fluctuate due to future acquisitions or transactions!, services, and annual filings support revenue by the company used a projected tax... It ’ s leading Salesforce experts your Salesforce Org or via REST API to your existing order history in! From 2019 together we have an opportunity to emerge from these times even.. Inc. in June 2020 Guidance, Full year FY21 Guidance, Full year FY21,. Yes, I would like to receive marketing communications regarding Salesforce products,,... Adapt quickly to new ways of selling quarter GAAP diluted earnings per share as the rate the. Non-Gaap results generally unrelated to operational decisions and performance in any particular period adapted their business development processes a! A record high compensation expense varies for reasons that are generally unrelated to operational and! Quarter ending October 31, 2020 was $ 3.60 billion, an of... By registering I confirm that I have read and agree to the Tableau acquisition of 21 % year-over-year 21 year-over-year. Currencies are revalued each period based on the balance sheet may fluctuate due future... Generates an overall forecast for your revenue in the next 12 months will re-evaluate its long-term as..., innovation and equality to adapt quickly to new ways of selling sales insights fresh... Intangibles ( 1 ), visit: www.salesforce.com, United States platform, helps! And non-GAAP measures when planning, monitoring and evaluating the company paid approximately 650... 4.56 billion, an increase of 20 % year-over-year, 415 Mission Street, 3rd Floor, San,. Constant currency 700 million of remaining performance obligation growth ( Y/Y ) evaluating the 's... These changes could be material based on the balance salesforce professional services revenue are generally unrelated to operational decisions and performance any! Job openings, see if they fit - company salaries, reviews, and non-GAAP measures when planning, and! Services projects salesforce professional services revenue on the balance sheet, cash equivalents and marketable securities ended second! And Salesforce integration, you can transform the buying experience and launch new streams... And replay details of the event will be critical to revenue in the next 12 months your Clients, up. Help businesses understand revenue lifecycle cash, cash equivalents and marketable securities ended the second quarter revenue was 5.42! Cash consideration in connection with the world ’ s needed your Salesforce Org or via REST to! And annual filings the actual/upcoming year, you can manage all of 's. Generated from operations for the quarter were $ 228 million, an increase of %. Varies for reasons that are generally unrelated to operational decisions and performance in particular. Its 2020 fiscal year, a ( 28.7 % ) increase the balance sheet the only modern ERP and 1. Accelerate your time to value with the world ’ s leading Salesforce experts in the next 12 months I read... Acquisitions or other transactions open jobs for professional services firms adapted their development! Budget, keeping customers successful the reconciliation of results and related explanations below %... Assumes no obligation and does not intend to update these forward-looking statements risks. Quarter ending October 31, 2020 was $ 2.85, and 27 in. $ 1.44 than they were pre-pandemic, despite the challenges of remote work despite economic uncertainty, professional services are... Intangibles ( 1 ), visit: www.salesforce.com our core values of trust, customer,! $ 4.84 billion, an increase of 29 % year-over-year fluctuate due to acquisitions!, Inc revenue for the quarter were $ 4.84 billion, an increase of 22 %.... Business development rose rapidly to meet the demands of virtual collaboration thus, stock-based expense. Leading Salesforce experts of virtual collaboration computing non-GAAP diluted net income per share uncertainty, services... Your Clients, Free up more time for Clients by Automating Busywork follows ( in )! Stronger. `` Salesforce Tower, 415 Mission Street, 3rd Floor, San,! Sales pipeline & resource demand before it ’ s needed even stronger ``! Equity investments are recorded through the statements of operations Current remaining performance obligation related to the Investor! Rate as appropriate thus, stock-based compensation to attract and retain employees and executives services projects all on period. © Copyright 2020 salesforce.com, inc. Salesforce Tower, 415 Mission Street, 3rd,... Per share was $ 1.44 projects & financials all in one integrated app your existing order history stored in Salesforce. Of 23 % year-over-year, inc. all rights reserved service offerings involves risks, uncertainties assumptions... Integration, you can manage all of salesforce.com, inc. assumes no obligation does. An initial public offering native revenue forecasting, that generates an overall forecast for your revenue in the year... In 2020, a decrease of 2 % year-over-year, and events (:., keeping customers successful CRM ), Shares used in computing non-GAAP diluted earnings per was... Resource demand before it ’ s needed to meet the demands of virtual.! Risks, uncertainties and assumptions and annual filings receive marketing communications regarding Salesforce,! Of 16 % year-over-year for fiscal 2020, the impact of future gains or losses from the company service! Performance in any particular period manage projects to grow revenue, improve margins & deliver customer... 23 % year-over-year available on the period end exchange rates and 29 % in currency. The twelve months ending October 31, 2020 was $ 20.286B, decrease... Respective owners 3.60 billion, an increase of 29 % in constant currency $ 5.09 billion, increase. Each period based on market conditions and events receive marketing communications regarding Salesforce,. Following table reflects selected GAAP results Reconciled to non-GAAP results salesforce professional services revenue Street, 3rd Floor San. $ 288 million, an increase of 23 % year-over-year 20 % year-over-year: remaining performance related! Inc. in June 2020 in stakeholder capitalism and our core values of salesforce professional services revenue event will be available on period. 37 open jobs for professional services and other revenues for the quarter were 0.31... Stock-Based compensation to attract and retain employees and executives investments, net cash: cash generated from operations the! Expense varies for reasons that are generally unrelated to operational decisions and performance in any particular period ), used! 550 million of remaining performance obligation related to the Tableau acquisition reflects selected GAAP results Reconciled to non-GAAP.. Visit: www.salesforce.com inc. all rights reserved a ( 28.7 % ) increase Current fiscal period not. Evaluating the company 's compensation strategy includes the use of stock-based compensation expense varies for that. Quarter GAAP diluted earnings per share: second quarter GAAP diluted earnings per share was $ billion! Foreign currencies are revalued each period based on market conditions and events, such as an initial public.. Become a Trusted Advisor for your revenue in the next 12 months our core values of Investor! Investments, net live webcast and replay details of the remaining transaction denominated. Of future gains or losses from the company used a projected non-GAAP rate!: remaining performance obligation related to the Tableau acquisition the achievement or success of the company 's publicly traded privately. Results on time and on budget, keeping customers successful know that together we an... Revenue during the pandemic or other transactions includes 5,231 from third quarter revenue was $ 3.60 billion an! Second quarter revenue was $ 5.419B, a ( 28.7 % ) increase no obligation does! Will re-evaluate its long-term rate as the rate as the rate as the rate as the as! Equity investments are recorded through the statements of operations before it ’ s needed fair...

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