The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Kash Rangan - Goldman Sachs Group Inc - Analyst
: Thank you very much. One for you, Marc. The debate that has surfaced lately is, has SaaS outlived its long run? Tech cycles have rarely lasted this
long. So how defensible is SaaS, particularly the category that you're in within SaaS against disruption from AI native apps and maybe custom-built
AI?
One, if I could sneak one for you, Robin. Data Cloud and Agentforce showing triple-digit growth. When does that inflect the top line?
Question: Keith Weiss - Morgan Stanley & Co Ltd - Analyst
: Excellent. Thank you, guys, for taking the question. And Marc, I really agree with your characterization of the extension of SaaS versus the elimination
of SaaS. Almost seems like the market has a little bit of a mischaracterization of what generative AI is, thinking of it as a category versus a big
extension of capabilities.
And I think Salesforce is showing their ability to deliver those capabilities. One of the stats that you talked about in the quarter was the 60% increase
in pilot to production. Was there some technology catalyst or some implementation catalyst that caused that increase of conversions of the pilot
projects into production?
If so, what was that? And any color you could give us on what that looks like, what a production deal is going to look like around Agentforce versus
what you've been seeing in the pilots?
Question: Keith Weiss - Morgan Stanley & Co Ltd - Analyst
: Outstanding. Really looking forward to it.
Question: Brent Thill - Jefferies LLC - Analyst
: Thanks, Marc. With the $20 billion addition to the buyback, there's questions about the strategy of leaning harder into the buyback and the balance
of M&A? And I guess, does this signal that you're leaning harder towards a buyback? Or do you feel like you can do both M&A and the buyback?
Just curious to get your thoughts. You have been doing higher frequency of deals, and I think everyone would love to hear your perspective on
what this means.
Question: Kirk Materne - Evercore Inc - Analyst
: Yeah. Thanks very much. I think this one is here for Marc or Miguel. But these two quarters in a row you've mentioned the create and close business
has been pretty strong. And as we think about AI doing more work on the behalf of customers, I was curious just as your view of whether the
mid-market become more of a source of durable growth for you all as we look out over the next few years. Marc, you mentioned that in relation
to the ITSM opportunity. Just curious about what you're seeing in the mid-market and if this can be a more expansive opportunity for you all as
we look out? Thanks.
Question: Mark Murphy - JPMorgan Chase & Co - Analyst
: Marc, we've heard software companies say that they have held their head count flat in their support organizations. We haven't heard anyone saying
that they reduced head count by close to 40% there like you have. I'm curious, what do you think is holding other software companies back from
seeing that breakthrough?
And then as you repurpose those sales roles in -- excuse me, the support roles more into sales roles, what type of firepower do you see that giving
you to try to drive some of the incremental top line growth that you referred to about 90 days ago?
REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us
consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.
SEPTEMBER 03, 2025 / 9:00PM, CRM.N - Q2 2026 Salesforce Inc Earnings Call
Question: Raimo Lenschow - Barclays Services Corp - Analyst
: Perfect. Hey, just to wrap it all up together. If you think about it, you have more sales guys, as Miguel said, the agents should help you to get more
productive. What does that tell me about your confidence about the growth outlook going forward? Could be a short answer.
REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us
consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.
SEPTEMBER 03, 2025 / 9:00PM, CRM.N - Q2 2026 Salesforce Inc Earnings Call
Question: Raimo Lenschow - Barclays Services Corp - Analyst
: Thank you. Yeah. Thank you.
| 
