Subtext

Salesforce, Inc. CRM

SectorInformation Technology
Transcripts69
Date range2007-05-16 – 2025-02-26
Calls charted69

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-24-12+0+12+242008 Q12010 Q32013 Q22015 Q32017 Q42020 Q12022 Q22024 Q32008 Q1 · Overall: +14.52008 Q2 · Overall: +9.02008 Q3 · Overall: +3.92008 Q4 · Overall: +11.82009 Q1 · Overall: +6.82009 Q2 · Overall: +8.02009 Q3 · Overall: +1.72009 Q4 · Overall: +5.12010 Q2 · Overall: +8.12010 Q3 · Overall: +2.72010 Q4 · Overall: +6.72011 Q1 · Overall: +11.82011 Q4 · Overall: +7.42012 Q1 · Overall: +5.92012 Q2 · Overall: +5.62012 Q3 · Overall: +5.72012 Q4 · Overall: +7.52013 Q1 · Overall: +9.02013 Q2 · Overall: +6.82013 Q3 · Overall: +11.62014 Q1 · Overall: +7.12014 Q2 · Overall: +13.12014 Q3 · Overall: +8.72014 Q4 · Overall: +12.52015 Q1 · Overall: +10.42015 Q2 · Overall: +11.62015 Q3 · Overall: +17.72015 Q4 · Overall: +14.42016 Q1 · Overall: +16.32016 Q2 · Overall: +18.32016 Q3 · Overall: +13.12016 Q4 · Overall: +9.22017 Q1 · Overall: +16.02017 Q2 · Overall: +14.92017 Q3 · Overall: +14.52017 Q4 · Overall: +14.82018 Q1 · Overall: +12.22018 Q2 · Overall: +14.32018 Q3 · Overall: +10.72018 Q4 · Overall: +17.02019 Q1 · Overall: +12.22019 Q2 · Overall: +13.12019 Q3 · Overall: +12.62019 Q4 · Overall: +14.02020 Q1 · Overall: +14.52020 Q2 · Overall: +17.92020 Q3 · Overall: +11.82020 Q4 · Overall: +15.32021 Q1 · Overall: +7.42021 Q2 · Overall: +11.42021 Q3 · Overall: +14.62021 Q4 · Overall: +12.72022 Q1 · Overall: +17.02022 Q2 · Overall: +17.92022 Q3 · Overall: +20.82022 Q4 · Overall: +10.92023 Q1 · Overall: +17.82023 Q2 · Overall: +11.02023 Q3 · Overall: +14.12023 Q4 · Overall: +17.42024 Q1 · Overall: +10.72024 Q2 · Overall: +18.52024 Q3 · Overall: +18.12024 Q4 · Overall: +15.82025 Q1 · Overall: +14.72025 Q2 · Overall: +12.22025 Q3 · Overall: +15.42025 Q4 · Overall: +16.0
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-30-15+0+15+302008 Q12010 Q32013 Q22015 Q32017 Q42020 Q12022 Q22024 Q32008 Q1 · CEO: +23.32008 Q2 · CEO: +8.62008 Q3 · CEO: +5.72008 Q4 · CEO: +13.02009 Q1 · CEO: +7.22009 Q2 · CEO: +15.52009 Q3 · CEO: +6.82009 Q4 · CEO: +13.22010 Q2 · CEO: +12.62010 Q3 · CEO: +3.92010 Q4 · CEO: +12.22011 Q1 · CEO: +14.52011 Q4 · CEO: +11.32012 Q1 · CEO: +6.42012 Q2 · CEO: +9.82012 Q3 · CEO: +11.22012 Q4 · CEO: +8.82013 Q1 · CEO: +12.12013 Q2 · CEO: +10.52013 Q3 · CEO: +19.42014 Q1 · CEO: +12.62014 Q2 · CEO: +22.52014 Q3 · CEO: +10.32014 Q4 · CEO: +16.92015 Q1 · CEO: +16.92015 Q3 · CEO: +17.12015 Q4 · CEO: +15.52016 Q1 · CEO: +18.62016 Q2 · CEO: +18.32016 Q3 · CEO: +12.72016 Q4 · CEO: +16.12017 Q1 · CEO: +19.82017 Q2 · CEO: +22.52017 Q3 · CEO: +17.72017 Q4 · CEO: +16.52018 Q1 · CEO: +17.42018 Q2 · CEO: +17.82018 Q3 · CEO: +18.72018 Q4 · CEO: +23.62019 Q1 · CEO: +17.42019 Q2 · CEO: +19.62019 Q3 · CEO: +16.02019 Q4 · CEO: +19.22020 Q1 · CEO: +18.12020 Q2 · CEO: +24.82020 Q3 · CEO: +16.42021 Q1 · CEO: +8.02021 Q2 · CEO: +15.02021 Q3 · CEO: +18.42021 Q4 · CEO: +21.82022 Q1 · CEO: +18.32022 Q2 · CEO: +20.32022 Q3 · CEO: +22.72022 Q4 · CEO: +11.52023 Q1 · CEO: +21.42023 Q3 · CEO: +14.82023 Q4 · CEO: +26.12024 Q1 · CEO: +17.02024 Q2 · CEO: +20.82024 Q3 · CEO: +24.92024 Q4 · CEO: +14.22025 Q1 · CEO: +19.62025 Q2 · CEO: +12.02025 Q3 · CEO: +14.32025 Q4 · CEO: +17.82008 Q2 · CFO: +22.72008 Q3 · CFO: +8.12008 Q4 · CFO: +18.72009 Q1 · CFO: +18.92009 Q2 · CFO: +9.32009 Q3 · CFO: +6.92009 Q4 · CFO: +1.62010 Q2 · CFO: +9.72010 Q3 · CFO: +8.62010 Q4 · CFO: +10.52011 Q1 · CFO: +9.62011 Q4 · CFO: +2.32012 Q1 · CFO: +11.92012 Q2 · CFO: +7.52012 Q3 · CFO: +4.32012 Q4 · CFO: +15.12013 Q1 · CFO: +16.32013 Q2 · CFO: +9.22013 Q3 · CFO: +3.82014 Q1 · CFO: +0.62014 Q2 · CFO: +7.82014 Q3 · CFO: +15.92014 Q4 · CFO: +12.22015 Q1 · CFO: +12.82015 Q2 · CFO: +18.52015 Q3 · CFO: +22.42016 Q3 · CFO: +21.32017 Q1 · CFO: +10.92017 Q2 · CFO: +10.32017 Q3 · CFO: +17.82017 Q4 · CFO: +14.42018 Q1 · CFO: +19.62018 Q2 · CFO: +9.72018 Q3 · CFO: +16.02018 Q4 · CFO: +17.62019 Q1 · CFO: +10.22019 Q2 · CFO: +9.32019 Q3 · CFO: +2.82019 Q4 · CFO: +11.82020 Q1 · CFO: +16.92020 Q2 · CFO: +23.22020 Q3 · CFO: +8.22020 Q4 · CFO: +8.72021 Q1 · CFO: +5.92021 Q2 · CFO: +17.42021 Q3 · CFO: +13.92021 Q4 · CFO: +2.12022 Q1 · CFO: +17.82022 Q2 · CFO: +18.92022 Q3 · CFO: +18.52022 Q4 · CFO: +7.72023 Q1 · CFO: +14.32023 Q3 · CFO: +10.92024 Q2 · CFO: +10.12024 Q3 · CFO: +15.82024 Q4 · CFO: +25.42025 Q1 · CFO: +11.62025 Q2 · CFO: +14.22025 Q3 · CFO: +13.82025 Q4 · CFO: +11.7
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-35-18+0+18+352008 Q12010 Q32013 Q22015 Q32017 Q42020 Q12022 Q22024 Q32008 Q1 · Prepared remarks: +21.52008 Q2 · Prepared remarks: +17.12008 Q3 · Prepared remarks: +8.72008 Q4 · Prepared remarks: +20.22009 Q1 · Prepared remarks: +15.32009 Q2 · Prepared remarks: +11.82009 Q3 · Prepared remarks: +6.72009 Q4 · Prepared remarks: +3.22010 Q2 · Prepared remarks: +8.62010 Q3 · Prepared remarks: +3.72010 Q4 · Prepared remarks: +6.82011 Q1 · Prepared remarks: +17.42011 Q4 · Prepared remarks: +8.22012 Q1 · Prepared remarks: +7.92012 Q2 · Prepared remarks: +9.62012 Q3 · Prepared remarks: +4.72012 Q4 · Prepared remarks: +9.92013 Q1 · Prepared remarks: +12.62013 Q2 · Prepared remarks: +11.92013 Q3 · Prepared remarks: +13.02014 Q1 · Prepared remarks: +7.32014 Q2 · Prepared remarks: +15.12014 Q3 · Prepared remarks: +10.32014 Q4 · Prepared remarks: +13.52015 Q1 · Prepared remarks: +15.52015 Q2 · Prepared remarks: +30.52015 Q3 · Prepared remarks: +20.52015 Q4 · Prepared remarks: +23.72016 Q1 · Prepared remarks: +20.22016 Q2 · Prepared remarks: +25.02016 Q3 · Prepared remarks: +19.72016 Q4 · Prepared remarks: +22.62017 Q1 · Prepared remarks: +27.32017 Q2 · Prepared remarks: +23.72017 Q3 · Prepared remarks: +27.02017 Q4 · Prepared remarks: +20.72018 Q1 · Prepared remarks: +29.92018 Q2 · Prepared remarks: +21.52018 Q3 · Prepared remarks: +11.92018 Q4 · Prepared remarks: +25.92019 Q1 · Prepared remarks: +19.72019 Q2 · Prepared remarks: +17.52019 Q3 · Prepared remarks: +13.72019 Q4 · Prepared remarks: +19.32020 Q1 · Prepared remarks: +21.62020 Q2 · Prepared remarks: +19.62020 Q3 · Prepared remarks: +18.32020 Q4 · Prepared remarks: +17.72021 Q1 · Prepared remarks: +5.92021 Q2 · Prepared remarks: +22.02021 Q3 · Prepared remarks: +17.62021 Q4 · Prepared remarks: +16.62022 Q1 · Prepared remarks: +22.62022 Q2 · Prepared remarks: +22.32022 Q3 · Prepared remarks: +22.22022 Q4 · Prepared remarks: +11.62023 Q1 · Prepared remarks: +21.32023 Q2 · Prepared remarks: +27.42023 Q3 · Prepared remarks: +16.02023 Q4 · Prepared remarks: +24.52024 Q1 · Prepared remarks: +17.72024 Q2 · Prepared remarks: +20.52024 Q3 · Prepared remarks: +23.92024 Q4 · Prepared remarks: +15.82025 Q1 · Prepared remarks: +19.72025 Q2 · Prepared remarks: +13.72025 Q3 · Prepared remarks: +17.32025 Q4 · Prepared remarks: +18.82008 Q1 · Q&A responses: +15.92008 Q2 · Q&A responses: +7.32008 Q3 · Q&A responses: +2.42008 Q4 · Q&A responses: +5.22009 Q1 · Q&A responses: +5.12009 Q2 · Q&A responses: +11.52009 Q3 · Q&A responses: +2.02009 Q4 · Q&A responses: +12.82010 Q2 · Q&A responses: +12.52010 Q3 · Q&A responses: +4.22010 Q4 · Q&A responses: +12.82011 Q1 · Q&A responses: +9.22011 Q4 · Q&A responses: +9.72012 Q1 · Q&A responses: +7.82012 Q2 · Q&A responses: +8.82012 Q3 · Q&A responses: +9.82012 Q4 · Q&A responses: +9.52013 Q1 · Q&A responses: +11.12013 Q2 · Q&A responses: +6.72013 Q3 · Q&A responses: +15.92014 Q1 · Q&A responses: +11.52014 Q2 · Q&A responses: +19.62014 Q3 · Q&A responses: +10.82014 Q4 · Q&A responses: +16.12015 Q1 · Q&A responses: +13.62015 Q2 · Q&A responses: +14.52015 Q3 · Q&A responses: +18.22015 Q4 · Q&A responses: +13.62016 Q1 · Q&A responses: +18.72016 Q2 · Q&A responses: +19.42016 Q3 · Q&A responses: +10.42016 Q4 · Q&A responses: +10.32017 Q1 · Q&A responses: +16.92017 Q2 · Q&A responses: +16.72017 Q3 · Q&A responses: +13.62017 Q4 · Q&A responses: +15.82018 Q1 · Q&A responses: +16.32018 Q2 · Q&A responses: +15.32018 Q3 · Q&A responses: +15.32018 Q4 · Q&A responses: +17.92019 Q1 · Q&A responses: +12.02019 Q2 · Q&A responses: +18.02019 Q3 · Q&A responses: +15.22019 Q4 · Q&A responses: +14.42020 Q1 · Q&A responses: +14.32020 Q2 · Q&A responses: +21.22020 Q3 · Q&A responses: +9.42020 Q4 · Q&A responses: +15.72021 Q1 · Q&A responses: +13.22021 Q2 · Q&A responses: +11.12021 Q3 · Q&A responses: +15.82021 Q4 · Q&A responses: +13.02022 Q1 · Q&A responses: +14.72022 Q2 · Q&A responses: +14.32022 Q3 · Q&A responses: +23.02022 Q4 · Q&A responses: +10.02023 Q1 · Q&A responses: +17.72023 Q2 · Q&A responses: +16.12023 Q3 · Q&A responses: +13.12023 Q4 · Q&A responses: +18.32024 Q1 · Q&A responses: +8.32024 Q2 · Q&A responses: +17.22024 Q3 · Q&A responses: +14.92024 Q4 · Q&A responses: +18.62025 Q1 · Q&A responses: +15.52025 Q2 · Q&A responses: +10.42025 Q3 · Q&A responses: +14.12025 Q4 · Q&A responses: +13.9
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$-0.32$5.81$11.942008 Q12010 Q32013 Q22015 Q32017 Q42020 Q12022 Q22024 Q32014 Q1: $0.532014 Q2: $0.592014 Q3: $0.642014 Q4: $0.682015 Q1: $0.732015 Q2: $0.812015 Q3: $0.882015 Q4: $0.972016 Q1: $1.062016 Q2: $1.112016 Q3: $1.162016 Q4: $1.262017 Q1: $1.352017 Q2: $1.462017 Q3: $1.572017 Q4: $1.702018 Q1: $2.132018 Q2: $2.482018 Q3: $2.662018 Q4: $2.742019 Q1: $2.872019 Q2: $3.122019 Q3: $3.022019 Q4: $3.082020 Q1: $3.302020 Q2: $3.222020 Q3: $3.762020 Q4: $3.602021 Q1: $3.552021 Q2: $4.022021 Q3: $4.432021 Q4: $4.712022 Q1: $4.842022 Q2: $5.212022 Q3: $5.352022 Q4: $5.622023 Q1: $7.412023 Q2: $8.092023 Q3: $8.932023 Q4: $9.432024 Q1: $9.972024 Q2: $10.352024 Q3: $10.792024 Q4: $11.09

Forward P/E

15.2866.84118.412008 Q12010 Q32013 Q22015 Q32017 Q42020 Q12022 Q22024 Q32014 Q1: 111.302014 Q2: 98.312014 Q3: 89.302014 Q4: 84.342015 Q1: 94.332015 Q2: 92.352015 Q3: 81.372015 Q4: 81.332016 Q1: 68.722016 Q2: 73.982016 Q3: 63.462016 Q4: 56.422017 Q1: 61.612017 Q2: 59.772017 Q3: 60.772017 Q4: 61.232018 Q1: 60.042018 Q2: 55.112018 Q3: 57.552018 Q4: 47.902019 Q1: 55.622019 Q2: 49.322019 Q3: 50.642019 Q4: 52.372020 Q1: 40.112020 Q2: 56.292020 Q3: 66.712020 Q4: 62.202021 Q1: 60.032021 Q2: 60.262021 Q3: 57.782021 Q4: 55.242022 Q1: 42.502022 Q2: 32.352022 Q3: 29.982022 Q4: 23.992023 Q1: 24.692023 Q2: 25.892023 Q3: 24.492023 Q4: 27.292024 Q1: 30.552024 Q2: 22.392024 Q3: 23.402024 Q4: 30.40

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q3 tone ↓ -4.4 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q1 tone ↓ -2.2 fwd EPS ↑ +0.05 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q4 tone ↓ -3.3 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q3 tone ↓ -5.2 fwd EPS ↑ +0.05 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q4 tone ↓ -3.9 fwd EPS ↑ +0.10 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -2.7 fwd EPS ↑ +0.44 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↓ -3.6 fwd EPS ↑ +0.18 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q1 tone ↓ -4.8 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +3.4 fwd EPS ↓ -0.08 Tone rose while the forward EPS estimate was cut.
  • 2020 Q3 tone ↓ -6.1 fwd EPS ↑ +0.54 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q4 tone ↑ +3.4 fwd EPS ↓ -0.16 Tone rose while the forward EPS estimate was cut.
  • 2022 Q4 tone ↓ -9.9 fwd EPS ↑ +0.27 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q2 tone ↓ -6.7 fwd EPS ↑ +0.68 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -6.7 fwd EPS ↑ +0.54 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q4 tone ↓ -2.3 fwd EPS ↑ +0.31 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q42025-02-26+16.0——View →
2025 Q32024-12-03+15.4——View →
2025 Q22024-08-28+12.2——View →
2025 Q12024-05-29+14.7——View →
2024 Q42024-02-28+15.8$11.0930.4View →
2024 Q32023-11-29+18.1$10.7923.4View →
2024 Q22023-08-30+18.5$10.3522.4View →
2024 Q12023-05-31+10.7$9.9730.6View →