Marc Benioff
Chair, Chief Executive Officer & Co-Founder at Salesforce
All right. Thanks so much, Mike. And thanks, everyone, for being on the call. We got so many exciting things to talk about today, and we're so excited to be with you. And we're also getting really jacked for Dreamforce, so looking forward to that. And we are just going to have a great call here. So, look, a year ago on this call, we talked about two amazing transformations. We're transforming Salesforce for as we were talking about the short and the long term, which was really code words for really addressing our financials, but really looking at this incredible AI opportunity. And now we look at a year later, I just couldn't be more excited about how these two transformations are driving the success of the company. And really, I don't think I've been more excited about the history of Salesforce and now the future of Salesforce. And how well positioned we are for the future.
And you can see it in our numbers with strong performance across revenue, cash flow, margin and CRPO. The numbers are beyond my expectation in the quarter. You can see that it's pretty awesome. And you can also see the incredible innovation in our product and engineering teams are delivering the success of our customers, and we're going to talk about a whole different kind of Salesforce today, a different kind of architecture and a product that we didn't even talk about on the last earnings call, that is going to be fundamental to our future and a manifestation of our decade of AI leadership, which is Agent Force.
Now, just in a few weeks, we're going to kick off Dreamforce. And I hope all of you are planning to be there. The largest AI event in the world, with more than. 45,000 trailblazers in San Francisco. And this year, Dreamforce is really becoming Agent Force. And I'll tell you, it's a funny thing about Agent Force, even one of our very top executives in engineering sent me a text last week and said, hey should we be renaming the company from Salesforce to Agent Force because we're all getting so excited about Agent Force.
And I also told Mike that I really want to make sure all of you are there and to do what he can to put together an analyst briefing at Dreamforce. And I told him I pay for to have outstanding culinary chef, and maybe we can bring in some great entertainment for all of you to -- encourage you all to come. So I just gave him a huge budget to really motivate everyone, because I think this is going to be a moment that everyone is going to have to see in person to understand what is going on, and I'm going to explain that in a second.
Because we're going to show our new Agent Force agents and how we've reimagined enterprise software for this new world of autonomous AI. And every customer, I'm going to try to get every customer who comes to Dreamforce to turn agents on while they're there. So many of the customers, of course, are already using our applications you know that, okay. And of course, we're automating all our customer touch points.
That's our Customer 360, and we've been talking now for the last couple of years about how we've really built this phenomenal Data Cloud that has really become, you know I would say our fastest growing, most exciting product ever up until one that we're about to talk about, which is to help our customers amalgamate all the data that they need to really get their AI act in order. That gets their data and metadata integrated and then federate to other data sources, and then this critical third tier, which this is the first call that we've ever talked about it, which is these agents.
And this idea that you're not just going to have sales agents and service agents. You probably read, heard, maybe saw on CBC, we're building the agents for workday. And we're going to be building custom agents for so many of you as well with Agent Force because it is a development platform as well as this incredible capability to radically extend your sales and service organizations.
So when you arrive at the Dreamforce campus, you're going to see a big sign outside that says, humans with agents drive customer success together. And that's because we now so strongly believe the future isn't about having a sales force or a service force or a marketing force or a commerce force or an analytics force, the future is about also having an Agent Force. And while many customers today don't yet have agent forces, but they do have sales forces or service forces, I assure you that within a year we're all going to have agent forces and we're going to have them at scale.
And it's going to radically extend our companies and it's going to augment our employees make us more productive. It's going to turn us into these incredible margin and revenue machines. It's going to be pretty awesome. And this is really the future, a new future that we can really envision, and with this Agent Force platform, we're making it easy to build these powerful autonomous agents for sales, for service, for marketing, for commerce, automating the entire workflow on their own, embedding agents in the flow of work and getting our customers to the agent future first. And this is our primary goal of our company right now. This is my singular focus.
So at Dreamforce and on this call, you're going to hear a lot of stories already of customers, and we're going to talk about the customers who have it, customers like. OpenTable and Wiley and ADP and RBC and so many others who are deploying these agents and running them on top of our Data Cloud and our apps. And in fact, you're going to hear about -- at Dreamforce you're going to hear one of the very largest healthcare companies in the world, it's got 20 million consumer here in the United States who's resolving more than 90% of all patient inquiries with Agent Force.
And they're benchmarking us significantly higher than any other competing AI platform, and that's based on some incredible AI breakthroughs that we have had at Salesforce, and I just have to call out the quality of our research team, our engineering team, and our product team, because the accuracy of our results, the reduction of hallucinations and the level of capability of AI is unlike anything, I think that any of us have ever seen, and we've got some incredible new techniques especially incredible new augmented RAG techniques that are delivering us the capability to deliver this accuracy for our customers.
In fact, one of these very large media companies that we work with a lot of probably know who have everything, you know every possible media asset, well, they're just resolving 90% of all of their employee and consumer. Issues with Agent Force, pretty awesome. So there's nothing more transformational than agents on the technology horizon that I can see. And Salesforce is going to be the first company at scale to deploy enterprise agents and not just any enterprise agents, the highest quality, most accurate agents in the world.
Now all of this, with our continued focus on trust, with customer success, with innovation is driving the results that you see today. And in Q2, we've delivered $9.33 billion in revenue, up 8% year-over-year in nominal and 9% in constant currency. Subscription and support revenue grew at 9% year-over-year and 10% in constant currency. And for the 11th year in a row, Salesforce ranked number one CRM provider by the IDC Software Tracker. And of course, Salesforce is the number one AI CRM.
And we'd like to say we're the third largest enterprise software company, but I was doing some calculations today, and I'd like you guys to do the calculations, I think we just became the second largest enterprise software company because we're not delivering infrastructure or hardware. And we already passed Oracle in Japan as the second largest enterprise software company. And I think we just did that, if you look at our enterprise software, Overall, we're the largest enterprise software company in the world.
So we continue to see growth in multi-cloud deals. In fact, multi-cloud deals accounted for close to 80% of our new business in the quarter, and we're just operating at this incredible scale, delivering 25 trillion Einstein transactions across all of the clouds during the quarter. That's 25 trillion and more than a trillion workflows, are now managing 250 petabytes of data for our customers.
We also continue to deliver on this incredible margin growth, and so many of you have guided us through that incredible transformation. So I just want to thank all of you for that. For the second quarter, our non-GAAP operating margin was 33.7%. That's up 210 basis points year-over-year and you can see the incredible transformation that we've gone through the last 24 months in margin and cash flow, which also was $892 million in the quarter, up 10% year-over-year.
So now let's turn to this financial guidance. For the fiscal year '25 we continue to expect revenue at $37.7 billion to $38 billion, a growth of 8% to 9% year-over-year. And subscription and support revenue growth of approximately 10% year-over-year in constant currency. And as you can see from our results, we remained committed to this very profitable growth at this incredible level of scale, and we're raising our fiscal '25 non-GAAP operating margin to 32.8%, a 230 basis point improvement year-over-year.
And as I told you last quarter, we're delivering incredible record cash flow this year. I'm pleased that we're also raising our operating cash flow guidance to 23% to 25% year-over-year. I'm also extremely proud of our team's focus and determination deliveries, great results and we're going to hear more in a second.
Now, as you know, and as you probably can tell from my narrative already, AI is not only my top of mind, but I can tell you because I've met with hundreds of customers this quarter that it is the top of mind for every customer, for every CEO, for every CIO, but I want to tell you before I get into this, is that I think that there's a lot of misconceptions about AI with my customers. I have been out there very disappointed with the huge amount of money that so many of these customers have wasted on AI.
They are trying to DIY their AI. It's not so unlike when we first saw cloud emerge, or even other technologies where they feel like they have to roll their own, build it themselves, get in the weeds, try to figure out, and they're not going to do it better than we're going to do it. We're a professional enterprise software company, this is what we do. And we do it with the trust and scale that they need.
And this idea that our customers are going to have to build their own models, train their own models, retrain their own models, retrain them again, and I'm meeting with these customers, and they're so excited when they meet me, and they say, oh, I built this model and we're resolving 10%, 20%, 30%, 40% of this, of that and whatever, and I'm like, really? Well, take a look at our models and our capability where you don't have to train or retrain anything, and you're going to get more than 90% and then they say, wait a minute, how do you do that? And this is a moment where every customer needs to realize, you don't need to DIY your AI. You can use a platform like Salesforce to get the highest efficacy of artificial intelligence, the best capability to fully automate your company, achieve all of your goals, and you can do it with professional enterprise software. And I've now met with all so many of these customers to really explain and to help them understand this transformative power of AI.
And they really, you know, I think we've all said, okay, we've never seen a technology evolve at such a rapid pace. So look at the last 18 months, we're moving from having these basic, pre-programmed chat bots. Now we can really see we're delivering these intelligent conversational capabilities. These agents, it's awesome. And we've created out of the box platform to deliver all of this for them.
So this could be service reply recommendations, account summaries, report generation, you've seen in slack, this kind of auto summarization recaps all of these amazing things. The level of automation, the amount of code that our team has written, the transformation of our platform in the last 18 months, it's remarkable. And customers love it because they can take the platform. And then all of this generative AI use case, customize it for their own needs or configure it using our capability, because they're doing that without writing a lot of code, it's clicks, not code, deploy them in days, not weeks. They're doing this in months, not years, and you're getting immediate ROI. And the stories are awesome.
While customers have loved seeing the power of generative AI, even I was using generate AI last night to write some new ads for what we're going to do, to kind of bring Agent Force across. And it's so cool and so awesome, but to have it right inside the platform makes it very real for our customers who have to manage and share all of their information to keep it trusted, to keep it secure, to be able to provide capabilities in a regulatory environment. Look this is -- they all want this huge breakthrough that's going to give them much more productivity augmentation of their employees and scale like I've been talking about. But we're seeing that breakthrough occur, because with our new Agent Force platform, we're going to make a quantum leap forward in AI.
And that's why I want you all at Dreamforce because I want you to have your hands on this technology, to really understand this. This is not Copilot's -- so many customers are so disappointed in what they bought from Microsoft Copilot because they're not getting the accuracy and the response that they want. Microsoft has disappointed so many customers with AI. Listen, these agents are autonomous, they're able to act with accuracy, they're able to come right out of the box, they're able to go right out of the platform.
And when you come to Dreamforce, you know I'm sure that you're going to get to San Francisco, you're going to jump in Waymo. I think they've got, like 500 Waymos down in San Francisco, it's pretty awesome, I use it myself. And you know what, that's like Agent Force. We're like a Waymo for your customer information and for automating your company that is it's autonomous, it's going to get you to where you need to get to. And yes, we're still going to have humans in our companies, but we're also going to have these agents. So these agents don't require a conversational prompt to take action. You can do advanced planning, reasoning with minimal human input.
And the example of this incredible healthcare company, you're going to be able to say to the agent, hey, I want to look at my labs. I want to understand this. Oh, looks like I need repeat labs. Can you reschedule those for me. Looks like I need to see my doctor, can you schedule that for me? I also want to get an MRI, I want to get this. And the level of automation that we're going to be able to provide and unleash the productivity back into these organizations is awesome and why that's important for this healthcare organization or for all of them that we're working with. Since the pandemic, these doctors and nurses are just so burnt out and there's so much activity for them that we're just going to lease that productivity back to them. So let the agent handle this simple task. And let the doctors and the nurses do what they're going to do best, and that is going to be a powerful moment.
So this is going to be like having these trusted colleagues can handle these time consuming tasks, engaging with these, whether it's inbound lead or resolving this customer patient inquiry or whatever it is, this is humans with agents driving customer success together. An Agent Force agents can be set up in minutes, easily scalable, work around the clock, any language. And by the beginning of next fiscal year, we will have thousands of customers using this platform, and we will have handheld them to make it successful for them. deploy it, the early trials have been remarkable. To see these customers have the success, it has been just awesome.
And let me give you a great example, Wiley. Now it's back-to-school season, Wiley is a long standing Salesforce customer. It's one of our first deployments in the first Agent Force trial. It's pretty awesome. And you all know they make textbooks and it's back-to-school, but maybe you don't know that Wiley has to surge their sales and service organization at back-to-school time when everyone's buying these textbooks. Well, now they can use agents to do that search.
They don't have to go buy a bunch of gig workers and bring them in. And that agent capacity is so exciting for them that what we saw with Wiley was this is a quote from them, we're seeing double digit percentage increase in customer satisfaction and deflection rate compared to older technologies and in these early weeks of our busiest season. So that was very reassuring to us that we have the right thing that's happening. And Wiley has already seen 50% increase in case resolution. That's with our first generation of Agent Force, as I mentioned. The second generation of Agent Force, which we have with customers already, including some of these amazing organizations. Like Royal Bank of Canada, ADP and others. There's 90% case resolution. It is an awesome moment in this tech business.
OpenTable is another super great story. You all know they are managing 60,000 restaurants or 160 million diners to support. They're on Agent Force now. They require that incredible scale to deliver top notch customer service. That's why they're using the product. It's been awesome to get the results. And it can be all kinds of questions resolving basic issues, account reactivations, reservation management, loyalty point expiration, Agent Force for service can easily answer all of these questions, like, when do my points expire? For Diner asset, follow up question like, what about in Mexico? Can I make this change? That's where we're delivering those incredible moments for OpenTable, giving them this kind of productivity enhancement.
So in addition to this amazing capability Agent Force for service, now Agent Force for sales. You can imagine extending your sales force with SDRs and BDRs, who are agents that are going out and building pipeline for you and generating all kind of man and even really closing deals. So this is going to drive sales cloud growth, it already is; service cloud growth, it already is; because customers are going to extend their sales and service organizations and become a lot more productive with these agents.
In the coming months, we're going to release Agent Force agents for other roles, including industry specific agents, health agents, as I mentioned, medical answering all kinds of medical questions as I mentioned, and we already have that in trial, with this amazing healthcare company, sorry, one of the largest epic databases in the world, and I just can't believe we're already resolving, as I said, 90% of these patient inquiries.
So, this marks a very significant advance in providing these reliable trusted AI. You know we're really seeing a transformation of Salesforce. Look, we're still going to automate all these human touch points. We're still going to have our commerce sites. We're still going to have our analytics and visualization capability of managing or we're still going to have humans who are sales organization, service organizations, but we are going to extend it all with this incredible agent capability.
Now all of this type of performance from our Agent Force platform wouldn't be possible without Data Cloud. One of the reasons that our agents are so accurate is because of the huge amount of data and metadata that we had. And data is the foundation for every AI transformation. And with Data Cloud, we're providing a high performance data lake that brings together all our customer and business data, federating data from external repositories through this credible zero-copy alliance.
So customers can use our Data Cloud and then federate and connect to all their other data clouds and then we can bring it all together to deliver the super accurate AI, that's why Data Cloud is absolutely our fastest growing organic product in history. It will be the fastest product to $1 billion -- it's going to probably be the fastest product of $5 billion, $10 billion. In Q2, the number of paid Data Cloud customers grew 130% year-over-year and the number of customers spending more than $1 million annually have already doubled.
In the second quarter alone, and this is amazing, Data Cloud processed 2.3 quadrillion records with 110% platform consumption growth year-over-year. That is awesome. Just amazing, the scale and capability. And for -- for customers who don't have that turned on yet and working at Dreamforce, we're going to focus on getting every customer on the Data Cloud.
For the last 25 years, Salesforce has been deeply committed to building the most capable CRM apps that help our customers connect with their customers in this whole new way. We've automated every customer touch point and now we're bringing these apps, data and agents together. It's these three levels, and this isn't three separate pieces of code or three different platforms or three different systems. This is one platform. We've rewritten all of our acquisitions, all of our core modules, our Data Cloud and our agents as one unified platform, which is how we are delivering not only this incredible functionality, but this high level of accuracy and capability.
And from this first-hand experience in meeting with these customers around the globe, I can unequivocally [Phonetic] tell you that building these agents without a complete integrated platform is like trying to assemble a plane mid-flight, it's risky chaotic and it's not likely to succeed. I mean I just got back from a Dreamforce focus group, where I met with one of the largest CIOs in the world, he was telling me how excited he was for the B2C part of his business, he built this model and accuracy rates, and then I was like, really, let me show you what we're doing here. And then he said to me, why am I doing this? Why am I not just using your platform? And I said good question. So these customers are spending millions of dollars, but are they really getting the results that they want? It feels like this early days of cloud. It's just early days of social and mobile. Customers feel like they have to DIY it, they don't need to, they can make it all happen themselves. And you can just see that to deliver this very high quality capability they can use a deeply integrated platform like Salesforce.
So with that, let me just move on to Dreamforce and just say, look, I hope you're going to able to come to Dreamforce. I'm going to try to encourage everyone to do it. I've told Mike, I really want all the analysts there. I want everybody there and all the investors there. We're going to make -- try to give you the highest quality experience to encourage you to do that. You'll be hearing the details from Mike on that shortly. And you're not going to want to miss it, but you're mostly not going to want to miss it because you're going to want to get your hands on this technology. This is the first time that you're going to see how AI really is going to revolutionize these enterprises.
Now before I hand it off to Brian, I just want to take a moment to thank Amy Weaver. It has been an incredible 11 years for all of us who worked with Amy. She's been an amazing leader across many different parts of our organization, is a deeply valued member of our Ohana. She's been a fantastic partner to me personally and over the last few years, in particular, Amy has spearheaded our financial transformation, resulting in an unprecedented margin expansion, increased operational excellence, financial discipline, continued strategic investments and Salesforce today is better positioned than ever with phenomenal platform for growth. And luckily for us, Amy has basically going through this amazing transformation with us and now getting ready to go to the next level in her own career, and she will step down at the end of the fiscal year at the end of February, or March and then she will stay with us, I think, until May of '27 to help onboard the new CFO.
And let me just rip on this for just a second. I've had the opportunity to work with so many great executives at Salesforce. And Amy is our fifth CFO. I think all of you know that we've had some great leaders, and we've been fortunate to build our company with some great folks. I remember Andy, Steve Cakebread, Graham, Mark, and then Amy has been just incredible how she's taken the financials to another level. It's been awesome to work with her. When she originally came to the company 11 years ago, she came in as our General Counsel. I think there's been a handful of general counsels who've been able to make the transformation. I always felt that Amy could do it. I have to say it was my idea that Amy should move from General Counsel to being CFO. She has exceeded my expectations and we've hired Heidrick & Struggles and our good friend, Jeff Sanders to run a search. We're reviewing internal candidates and external candidates. We're going to do a comprehensive search. Amy is going to leave that with me. We're going to find another world class person to be our sixth CFO, which will be awesome. And if you have people that you know that you're interested in this position. It's a great job, right, Amy?
