(CRM) Q1 2017 Earnings (CRM) CEO Mark Benioff said the company experienced it’s best 1st quarter in its history

“It’s the best Q1 we’ve ever seen. There is some incredible numbers you’re going to see including the cash flow number. Revenue for the first quarter as you saw grew nearly to $2 billion that was up 28% in constant currency that was just above our expectations. Deferred revenue also grew more than $4 billion up 32% in constant currency that was also above our expectations to see deferred revenue grow with a three in front of it at this size and scale.”

Took some time to bash the competition 

“We’re well positioned for another great year. This is amazing I think that one of the reasons that we are doing so well is because Oracle and SAP are doing so poorly in the cloud, they just have not been able to make that transformation that we’ve made, that other companies have made, and we just continue to take market share from them and gain customers at a record levels and you can see that their growth numbers are nothing like we’re putting up here as we deliver our first quarter and it’s happened because Salesforce is really the only company totally focused on companies helping to connect with their customers in a whole new way.” (CRM) COO Keith Block said they are seeing larger and larger transactions

“So we began fiscal 2017 with a record number of large transactions more than any other first quarter in our history as a company. The value of these large transactions across our clouds continue to increase. We have built on our tremendous momentum from Q4 and in fact we closed yet again another nine figure transaction in the first quarter.”

Signed deals with Amazon & Uber

“An example, in Q1 we signed a significant and strategic agreement with Amazon. We are now their company-wide customer platform and this is a huge expansion of our relationship with them and we plan to use more Amazon services in the future.  Uber one of the world’s great innovative companies, another expansion in the quarter, they’re an incredible innovator with off-the-chart growth. They selected Salesforce to be their global customer success platform, so they can build one-to-one journeys at scale for millions of Uber riders worldwide. This is one of the most innovative companies as I said and they are driving their innovation by leveraging our customer success platform.” (CRM) CEO Mark Benioff highlighted some emerging trends which he thinks will help the company continue to maintain its lead

“When I look at kind of the next major trend for Salesforce and our industry that will drive tremendous growth is got to be artificial intelligence. And as we look out into the future and we start to look at extreme improvement and advances in artificial intelligence whether it’s machine learning, whether it’s deep learning, whether it’s machine intelligence itself, I think that those kind of capabilities appearing inside our applications that is going to be a major growth capability going forward.  So Heather, when I look forward, what I see is an AI first world and for every customer is going to be able to get whole another generation of productivity out of artificial intelligence, machine learning, and deep learning.” (CRM) CEO Mark Benioff emphasized his respect for Jeff Bezos and the rest of the AWS team

“Number one I’d say we love Amazon, we’ve got a great relationship with Amazon, they are a huge user of Salesforce and that certainly has been a huge part this quarter as well. We did a very significant and very large transaction with Amazon and Jeff Bezos, and I have a great meaning of the minds, the future of the cloud. I think that it’s been a great relationship and partnership for us. We are definitely exploring ways so we can use AWS more aggressively with Salesforce. Of course we know that we run one of the largest application development capabilities in the world on AWS which is Heroku. We also are building our new IoT cloud on AWS. We also introduced new capabilities for our marketing cloud last week on AWS. And we have a lot of research and development capabilities in AWS. When you look at Amazon today, there is no public cloud that is more sophisticated, more well used by enterprises ad one that has more robust capabilities than Amazon. They have done a spectacular job in defining this kind of infrastructure as a service market. They of course dominated.”

Continuing to take market share in CRM space

“But the third thing I would say is when you look at all the innovation Marc is talking about and you look at market share and you probably extend we took market share again in Sales Cloud but even more importantly we took market share at the CRM level. Number one again, I took a 150 basis point and our key competitors are falling behind and actually losing market share and so that’s exciting to but this is a continuing trend.” (CRM) CEO Mark Benioff said that being a cloud company isn’t just about technology

“As part of kind of the market trends, there is a lot of legacy on premise providers out there quite frankly that are still trying to figure out if and how they can possibly transition to the cloud which is very difficult, a lot of companies will claim that they are a cloud company. But the reality is being a cloud company is about technology, it is about a business model and it’s about a culture of driving customer success.” (CRM) COO Keith Block mentioned their partnership with Accenture as a resounding success

“I just last week I addressed the Global Partners Forum at Accenture in Munich and talked about digital transformation and how Accenture and Salesforce are doing so well together. And just to give you an example of Accenture, we just don’t have a go-to-market relationship with them which is terrific and they continue to build their practice, they’re also a very large customer of us, so they are leveraging the Lightning platform, they are rolling it out very aggressively, they are getting all the benefits of it and they are building products on top of our platforms. So with a beautiful 360 degree relationship with Accenture that has really served as a model for all of these great systems integrators.”