Good afternoon. My name is David, and I will be your conference operator today. At this time, I would like to welcome everyone to the Salesforce.com Q2 Fiscal Results Conference Call. [Operator Instructions] I would now like to turn the call over to Mr. David Havlek, Senior Vice President of Investor Relations. Sir, you may begin your conference.

Thanks, David. I'd like to welcome everyone to Salesforce.com's Second Quarter Fiscal Year 2012 Results Call. Here today to discuss our strong quarterly performance, are Marc Benioff, Chairman and CEO; as well as Graham Smith, our CFO. Following Marc and Graham's prepared remarks today, we'll open things up to your questions. We now have 43 analysts covering the company and because we want to get as many of you as possible, we will be limiting each of you to one question today. A complete disclosure of our second quarter results can be found in a press release issued about an hour ago, as well as in our Form 8-K filed with the SEC. Additional financial information, including detailed historical financial statements and facts is available on our website. Our commentary today will primarily be in non-GAAP terms. Reconciliations between GAAP and non-GAAP metrics for both our reported results and our forward guidance can be found in our earnings press release. At times in our prepared comments or in responses to your questions, we may offer incremental metrics to provide a greater understanding of our business or our quarterly results. Please be advised these additional details may be one-time in nature, and we may or may not update them in the future. In addition, I remind you that this quarter is the last quarter in which the customer count metric will be provided as a regular part of our quarterly report. In the future, we expect to offer this metric periodically on a milestone basis. We're making this change because several of our recent acquisitions have had large number of users were linking those users to specific customer organizations can be extremely challenging and in some cases, impossible. As a result, we believe our traditional customer metric will be less meaningful…

Thanks, David. I'm absolutely delighted to discuss these strong second quarter results, just 2 quarters now into our fiscal year and we will soon exceed a $2.2 billion annual revenue run rate, validating both our growth strategy and our ability to execute on the incredible opportunity. I'll begin by reviewing some of these financial highlights. Number one, revenue of $546 million rose by 38%, and we haven't seen revenue grow that fast in almost 3 years, and that was one we are less than 1/2 our current size. Non-GAAP EPS of $0.30 was at the high-end of our guided range, and we delivered that result even as our headcount has grown by more than 800 during the quarter. Deferred revenue increased by 37% to finish the quarter at $935 million, and operating cash flow rose by 9% to $83 million in the quarter, and we exit the quarter of nearly $1.3 billion of cash and equivalents on our balance sheets. Our financial success was powered by another quarter of tremendous customer success. And during the quarter, we added roughly 6,300 net new customers, that's a company record, smashing past 100,000 customer milestone. And let me just say that, while we ended the quarter with 104,000 customers using our core Salesforce services, that number does not include the thousands more who are using Heroku and Radian6, which are 2 of our most recent acquisitions. We also saw continued strength in big deals during the second quarter and all we signed more than 60, we signed more than sixty 7-figure transactions a 40% increase compared with last year, and we signed three, three 8-figure megadeals. In addition, I'm thrilled to tell you, we closed an additional 8-figure megadeal just after the quarter ended with a large telecommunications company that we will be…

Thanks, Marc. Q2 was another exceptionally strong quarter. Our business results reflected both great execution and continued healthy business demand. Second quarter revenue of $546 million was 38% from the year ago quarter. The main drivers or the top line growth were: first, new business which Marc has already discussed. Not only did we add a record 6,300 net new customers in the quarter, but we also saw strong add-on and upgrade business in our customer base. In fact, more than 1/2 of new business sales in the quarter were Internet customer based. As you know, many of our most successful customers start small and grow over time. With over 100,000 accounts now and an expanding portfolio of products, our customer base represents a huge growth opportunity. Second, a continued reduction in our attrition rate. Dollar attrition fell for the eighth consecutive quarter and continues to be in the mid-teens percentage range when compared to the year-ago quarter. As we said in the past, minimizing attrition is an important foundation for growth, especially as our business scales over time. And lastly, a weaker dollar. Excluding a year-over-year FX tailwind of approximately $18 million, constant-currency revenue growth was 34%. We didn't see any changes in pricing based on our rolling 8 quarter trends for both regions and additions. On a regional basis, revenue in the Americas grew 34% from a year ago to $367 million. European revenue of $102 million rose 56% year-over-year in dollars and 36% in constant currency. Within the region, the U.K. had a particularly strong year-over-year in new business quarter. And finally, Asia revenue of roughly $77 million increased 42% in dollars and 33% in constant currency versus Q2 a year ago. While second quarter new business in Japan was down slightly versus a year ago, the…

[Operator Instructions] Your first question comes from Adam Holt, Morgan Stanley.

I had base -- I'll start with a macro question since you're one of the first companies to report since we've really seen the pullback in the marketplace. Did you see any change in the demand environment through the quarter or even in the beginning of the subsequent quarter? And did you change the way that you're thinking about conservatism for the third quarter to maybe bake in a softening environment?

We haven't seen a softening environment. We saw a strong quarter. Each month was very strong. We had a strong finish to the quarter. It would have been a blowout quarter except for that fourth 8-digit transaction that I mentioned, came in the week after the quarter which is setup. This quarter was a strong start. And our -- I was out in the market very aggressively during the quarter, and as I mentioned, in Japan, in DC, Boston, Minneapolis, and I just want to tell you that when I show up in Minneapolis, I expect a crowd of 200 to 300 people, not 1,000. And in each of these environments, I'm seeing 2x to 3x what I would normally expect in terms of physical turnout. And when we look at kind of already the registrations that are done for Dreamforce, and the ones that are easiest for us to spot are the paid registrations, our numbers are up, I think, 30% to 40% year-over-year. So we don't see a soft rate environment, we see for our business, a very strong and accelerating environment, and that's why we're raising guidance. If the environment would change, we would, of course, we would let you know. And we think we're really well positioned for the future. We certainly are -- we certainly saw also in the quarter with a number of very large transactions that were happening just a robust acceleration of our existing customers of going deeper with us. And I think that, that's going to be very, very powerful. I also want to say, attrition was really low during the quarter, which was amazing, we saw attrition drop. And so attrition is really, really down from where we saw it peak out in 2009. And that's, of course, a help in the quarter as well.

Your next question comes from the line of Heather Bellini of Goldman Sachs.

I had 2 quick questions, Marc. I guess can you talk a little bit about your hiring plans in the back half of the year? Because there were some concern today that the company was actually putting in place a hiring freeze? And then the second question would be Graham, if you could talk a little bit about what you're doing -- if you're doing anything differently in relation to churn to help drive it down? And how much room for improvement, if you just kept the macro environment status quo, how much room for improvement is there based on some of these initiatives you might be employing?

In regards to hiring, you saw us -- we've onboarded a huge number of employees already this year, and we plan to onboard a huge number of employees in the next 2 quarters as well. Our hiring plans are very aggressive this year. We are onboarding another 30% increase in distribution capacity this year. You'll remember that last year, we onboarded approximately 40% distribution capacity increase. And I think that you're seeing that payout when you see 38% year-over-year growth and 37% growth in deferred, we spied a lot of that coming from this distribution capacity that we added last year, that's still coming online. So our gut reaction is adding more distribution capacity because the more distribution capacity we add, the more sales and more market share we get. And we're still very small in our distribution organization in terms of size compared to a Microsoft, Oracle or SAP, which are really our targets, and so we want to grow aggressively. And I think that if there's anything you're going to see us do, we are going to invest, we are going to grow and we are going to hire, because we want to take advantage of this opportunity. And if you look back at things different times of turbulence in the last 10 years that I've been CEO of Salesforce, the biggest mistake I ever made in any one particular time was when I did not hire aggressively. Hiring has always paid out for this company. And the market is so enormous and so exciting on a global basis. And right now, the products in such a mature and exciting point in being able to handle very large companies or very small companies, we want to be able to satisfy that demand through our distribution organization. And I believe we're still a distribution constrained organization. So we're hiring, and if you heard of a hiring freeze, that may be one of our competitors but that's not at Salesforce.com.

And Heather, on the...

And by the way, recently onboarded a former financial analyst, very successful. We are hiring, we're taking all resumes, so e-mail me your resumes. Sales obviously is primary, but Graham is hiring too. So keep us in mind.

Alright. And Heather, on the churn front, I don't think we're doing anything differently other than just staying really focused on it. We continue to refine our customer success model. We really brought in some very strong management talent under Maria Martinez, who as you know, joined us over a year ago from Microsoft. We've got our early warning system statistics that we -- enables us to pick up on trends earlier than maybe a few years back. As you know, when we give guidance, we generally assume attrition is flat. I don't really know exactly where it's going to go potentially. The best case maybe is low teens but clearly, the macro environment does affect that.

Your next question comes from the line of Jason Maynard from Wells Fargo.

First, congratulations on scoring Metallica. And I have a question about Radian6 and what you're seeing in the social space. And I'm curious just on 2 fronts. One, what do you see in terms of adoption now that, that product is more distributed to salesforce? And two, how is it playing into some of your service cloud and sales engagements?

Well, I think that usually, we'll buy a company. We've bought a lot of companies and what's exciting about a new company coming on board is the new people. It's always exciting and as a new customers, that's always very exciting. And as a new brand, that's very exciting. But really, Radian6 is the first company that we've bought where we really feel like it's transforming the company. And that's really what Radian6 has done. I mean, when we bought Radian6, we talked about, "Well, it's the beginning of the marketing cloud, which it certainly is, and it's about social listening which is certainly is." But what Radian6 did was it opened our eyes to the opportunities in the social enterprise. And if you go to YouTube and you type Gatorade social media monitoring or you type Dell social media command center or others, you're going to find these social media command centers that Radian6 is building all over the world to help companies monitor and manage what's going on in the social enterprise. And that really woke us up to what are all the other things that we should be doing in regards to social monitor and social enterprise. And we were already in employee, in social, what we call kind of employee social networks. That was our -- that was Chatter, right? And then we're like, "Well, we're thinking about moving into customer social networks." And you're going to see some exciting technology at Dreamforce around new types of customer social networks, and we're excited about that, new products coming. And then we saw the product social networks with the Toyota examples, and other examples. But it is where the Radian6 that we have been inspired to do all of this. And when we're out there demoing this -- their technology, it really shows how all of this can work together, and we have not yet even done the total deep technical integration because we haven't had the property that long. So we're growing them, we're expanding their sales organization, we're hiring in Halifax if you're interested, Jason, we got some great opportunities up there in Fredericton, Nova Scotia, it's beautiful this time of year. And this is just huge. And how do we play that out? Well, you're going to find out at Dreamforce.

Your next question comes from the line of Tom Ernst of Deutsche Bank.

So Marc, I'm one of those Minnesotans who always come see your show when you come up here. There's plenty of us. Question for you. You talked a little bit about already about the traction at the high-end of our customer standardizing more and more strategic purchases. You clearly have a lot more to sell. The platform technology, a lot of usage comes free at the high end of the market. The question is, are you beginning to see that drive some monetization at the high-end of the market? Is it something you feel like you've got the power, the demand pull now to be able to charge in a material basis for Force.com? And how quickly do you pull that lever as you look forward here in this early adoption phase?

Well, we're looking at new ways to be more deeply monetize Force.com. I think that the way we charge for Force.com is, it's on a per user basis, and then you can get all the apps you can eat. And I think that we would really like to move more to a per app model on Force.com. I think that, that was certainly a great way to get going with the product, but wow, we have seen companies, so many companies build so many apps on Force.com that I think we're ready to start talking about per app pricing, not just per user pricing. And that's an evolution. I think another major evolution is enterprise license agreements. We've seen salesforce deliver enterprise license agreements, but it just has not been a big focus for us as we've moved to the social enterprise, our customers are saying, "What about social enterprise license agreements?" And when we look at these SELAs, we're like, "Wow, how do we deliver to this customer a full social enterprise license?" I was in plenty of customers this quarter where they're like, "Well, I don't know about this per user pricing over here, and I don't know about the Force.com pricing over there. And what about Radian6 over here? And what about the Jigsaw pricing over there, and blah, blah, blah?" And we're like, "We've got to take this off the table and give these customers the ability to step way out with SELAs." And I think that's another huge opportunity that we just have not played out yet. So though you're touching in and you're stepping in, I think, one of the really great areas for us to optimize which is pricing, which we just have not touched in a long time and we can offer customers much better deals.

Your next question is from the line of Kash Rangan from Bank of America.

I'm not going to ask about the hiring question, Marc, but I wanted to ask you about the 8-figure or 7-figure transaction. Certainly, we've not heard you describe the metrics in that fashion before. I'm just curious if you can give us a bit of a perspective as to what these customers are deploying salesforce for? And if you're really seeing broader adoption of Force? What kinds of customer applications are being replaced with force? And maybe if I could entertain you into giving us some idea? Are we at the tipping point of Force becoming really something mainstream? Because it does sound like there's a lot going on at Force. Certainly, these big figure transactions can't be happening unless you're setting a broader suite of products. So if you could just elaborate on that, that will be great.

Well, you want to build the next generation application in your enterprise, what are you going to do? Buy more Oracle, are you going to blow it up on one of these big Oracle Exadata machines, that's just not realistic for a lot of our customers. And what are you going to buy? More SQL server? Are you buying more BA? Are you buying NetWeaver? These are last generation technologies. Lotus Notes, SharePoint, I mean, these are more -- this is more server, more servers and more software and not more solutions. And I think customers have seen with Force.com, they can basically build at 5x faster at 1/2 the cost. That's proven over and over again by every major independent analyst firm that's out there. And they can do it whether they want to do it clicks or code and now we're extended it with Heroku, giving them another tremendous option in terms of opening the platform of Ruby on Rails, and you're going to see the platform open up much further with exciting new languages, that we have been foreshadowing at Dreamforce. And we're high on Platform-as-a-Service. And at the heart of these social enterprise agreements, we talk about you've got to build your employee social network, which is getting your collaboration employees with Chatter and your sales people in place with our Sales Cloud and the service organization. And then we get right into, "Okay, let's build some custom applications and automate and extend what you're doing and Force.com plays right into that." Then we start to talk about like what Tom mentioned on the call here like with Disneyland, let's build some sites for public consumption. Like we've done at facebook.com/disneyland, and then let's move into the partner social networks and the product social networks and the listening through Radian6, it's a big indicator to customers that they need to move the Force.com and to Heroku to maximize their investments of salesforce and thousands and thousands have, and it's really because those old software companies have not stepped up with new tools and new solutions. They have -- they look a little bit long on the tooth. There, it's a little bit too much if your grandfather's enterprise software, and it's not enough about cloud, mobile and social. And that's I think, the opportunity for salesforce and when you get to Dreamforce, you're going to see that play out even further.

Your next question is from the line of Laura Lederman of William Blair. Laura Lederman - William Blair & Company L.L.C.: Can you similarly talk about monetization of Chatter? Is it mainly a platform that customers are building applications on? Or what about if there is a site license for Chatter, what are customers paying for that because free versus not free Chatter, I guess is what I'm to understand? And separately, on the potential change and how do you price things, have you test floated that with customer? What's their feedback? Would you roll it out on one product slowly and then on others over time? Just sort of how you would, over time, address change in pricing?

Well, I think different products have different levels of value to the customer based on, honestly, where previous competitors have priced those products. And that's really why we've always talked about Chatter as an entry point to us, and in many cases, a Trojan horse for us, and in many ways, it's really establishing our position wall-to-wall for the first time inside of a customer. And the Chatter price points have been, I would say, very exciting but not as exciting as a very rich price point of traditional CRM systems or data management systems, or even application development and deployment systems. And that's been 100% our expectation all along. There is no sexier demo and no more exciting place to enter a company than with Chatter. If you've been watching every Monday in the Wall Street Journal, we have a different customer being featured, and we've had CEO after CEO after CEO in those ads, and there's a line of them still coming. We did not have a product that CEOs were using before. And when you see those CEOs using that product on their iPads, that is the kind of positioning we want that we want to be able to go into the C-suite with a strong clear message of, "How do increase your productivity, get your company going faster and get greater alignment and collaboration?" That's what Chatter is all about. But in terms of building a social enterprise, well, it's much more than just Chatter, it's about the Sales Cloud, The Service Cloud and Force.com, Heroku, Radian6 and all the other technology that we have. And when you put all of that together, that is exactly, as you said, the opportunity for the social enterprise license agreement, and those, with those large customers that are all over the country that we've been building up over time, more and more, we hear, we want a one price for the next 3 years, and the true-up opportunity, so that we can really double down on your technology. And we're really working on understanding how to do that, and I think by Dreamforce, we'll have the first introduction of that capability.

Your next question comes from the line of Brent Thill of UBS.

A question for Graham. I think the last downturn, Graham, that the churn had ticked up at the low end, and I'm curious if you think that anything is different this cycle, that assuming that you did see a slowdown, I know your results and forecast don't suggest that, but is there something that insulates you more this cycle than perhaps, the last cycle?

First of all, I want to reiterate, clearly, if we've seen anything in any of these trends, we would have commented on it. So you're right, in the last downturn, we did see it first in small business. That moved up quicker and actually, churn came down quicker in small business. So that's just one of the things that we'll just continue to watch and be mindful of as we head into Q3. I think all the things that Maria...

Well, we haven't seen anything so far if anything like that. Except for on this call.

So I think all the other things that I talked about earlier, that Maria's team has done will help us, but it's difficult to know clearly, if we're heading, even heading into that kind of environment. Sorry, I don't really want to try and speculate on what we might or might not see.

And your next question is from the line of John DiFucci of JPMorgan. John DiFucci - JP Morgan Chase & Co: Marc and Graham, just a follow-up to Brent's question, it's obvious from your results and also from your guidance that strong new business momentum continues here. Marc, you were very clear that you're going to be hiring even if macro backdrop seems a little bit funky. And by the way, there are others that are showing this macro backdrop slow down, and that's why the concern is on the call that you obviously understand. But it seems to me that some of the things that people are concerned about, you're actually better positioned than others. And I just wanted to know if you could share with us a little bit more. I know for EMEA exposure, you're somewhere around 20%, maybe a little less than that? Which, by the way, is an opportunity you started here, and you're a relatively young company, it makes sense that you have less exposure than the average software company. But what about public sector and financial services exposure? Can you tell us a little bit about how much of your revenue or bookings, or even generally, comes from those 2 verticals?

Well, I would say number one is when we look out at what are the opportunities and what is the "exposure" for us, we have a very balanced portfolio across the world of small and medium companies and enterprises. We're probably very unique as a software company, number one, in that we have such a huge stratification of enterprises that we work with in size from the very smallest to the very large. So if it's all about SMB, maybe it's shifts up to the enterprise. If it's all about the enterprise, maybe it shifts down to the SMB. And then, we are again, diversified our portfolio across the 8 main countries that we do business in. And then, we have a number of industries that we have strengthened but no one industry and no one market and no one geography, except for maybe the United States, really is, are we that dependent on, I would say. And public sector is not something that we have really ever been able to turn in -- we've never focused on it honestly. It's probably a mistake that I've made. I probably should be focusing more in the last 13 years on public sector. I just haven't really gotten around to it because we've had so many other exciting opportunities. Some of our competitors have been able to move into the public sector because we haven't. And that hasn't been a big focus. They've come more to us. You saw that transaction with the GSA this quarter. We see more opportunity in the federal government obviously in the future. We've had great success in Japan. And obviously, Japan has not been the best environment in the last couple of quarters because of the disaster. It's happened there but we continue to have a…

Your next question comes from the line of Mark Murphy of Piper Jaffray.

Marc, I have a question on your social enterprise messaging, it's really become a huge and hot topic, and no other company is pursuing it in this way. But it seems to resonate with certain companies whereas other companies don't yet have an executive level mandate to pursue this kind of social strategy. And so I'm wondering what inning do you think we're in? And overall, is it reminiscent of how customers responded to idea of the Sales Cloud, say 6 or 7 years ago before it was really mainstream?

Right. Well, I think that where we are is certainly in the first inning. And when you look at it, we've been talking a lot for the last couple of years now about something called Cloud 2, which is, we kind of moved from the first generation of cloud, which is where we started, which was people still have their notebooks and their laptops, which they have less and less every day of. And they have this more stable browser environment, they had HTML and we were able to deliver them enterprise-class services right into the browser, customized exactly for them. That was really Cloud 1. Cloud 2 was when we saw this huge shift from -- into social networks, with Facebook, with Twitter, Google+, with the mobile environment, with the iPhone and the iPad and the Android accelerations. And then the continued amplification of the cloud itself being more robust, more scalable, more secure than ever before. And then customers would say, "Well, what is Cloud 3?" And when we saw Cloud 3, we're like, "We're not sure when we're going to have Cloud 3. What is Cloud 3?" And then all of a sudden, something amazing happened to me personally last December, which was the CEO of Toyota came over to my house and he said, "What am I supposed to do with my company?" And I kind of was, "Well, I'm not exactly sure." I looked down and I grabbed my hat and I pulled a rabbit out of it, and I said, "You need a friend and your friend should be your car in the way of a Toyota Corolla and a Toyota Tacoma. You should have -- And you have a Prius, you should have a Toyota friend." And the Toyota Friend should be a…

Your next question is from the line of Mark Moerdler of Sanford C. Bernstein. Mark Moerdler - Sanford C. Bernstein & Co., Inc.: Question on the full year GAAP guidance. You've given it now at a loss per share of $0.09 to $0.11. And prior, it was $0.01 to $0.03. Obviously, $0.04 of that is the one-time tax. Can you give a little more clarity on what the rest of it might be?

Well, the big thing that [indiscernible] -- follow-through is we're buying a lot of companies, we're making a lot of investments. And as we buy these companies really for the first time in the last 12 months that we bought 3 big companies with Jigsaw, Heroku and Radian6, it's really impacted that GAAP number. And as CEO, my job and how I look at it at this point in this company's history is not to focus on that GAAP profit number. I think I've said that a number of times, that we are really focused on that top line and the market share opportunity. And if we were focused on the GAAP number, we would not be buying anybody, number one. And we would be probably running a much leaner machine, and we would not be as excited as on market share gains. And so what I really instructed the company to do is to blow it out on the top line, and that's why there are too many enterprise software companies at the $2 billion-plus level, delivering a 38% top line growth this quarter. And you can forecast that out through the next year as well. And the cost of that comes in the GAAP line, of course, and the GAAP profit line. I'm sure there will be a day in the future where we'll say, "Well, we're not going to buy any more companies. We're already satisfied where we are. And now, we're going to maximize GAAP profit." And we've shown how we can do that by slowing hiring or whatever. That's not where this company is. This is a growth company, and this is a growth story, this is about the next-generation and you aren't going to build a great company if you focus only on GAAP profit. And that's why the non-GAAP number is very important but the ultimate number and the most important number is the top line. And Graham, do you want to add to that?

Sure. Just a few bit of details on that Mark. So estimate on stock comp charges was up a little, I think it was up about $3 million for the full year. Amortization of intangibles again was up a little bit, a couple of million. And then actually, the biggest factor in the move on the GAAP guide was last quarter, we estimated the blended effective tax rate was 38% on those reconciled items. This quarter, we think the blended rate is about 35%. So if you take all of those, it basically moves that GAAP guided range.

And that's example where I'm like, "Are we supposed to be really focused on the spot comp number as part of the GAAP guidance? Is that the key to growing this company?" I don't think that's the right place for us to focus.

Alright, operator, we've got time for 1 more question. Marc's got energy for one more, so let's go ahead and do 1 last question.

And your final question in the evening comes from Brad Whitt of Gleacher. Bradley Whitt - Gleacher & Company, Inc.: I was curious as someone have mentioned earlier, you haven't given the big-deal metric before. How do you categorize the big deals? Do those include upgrades from existing customers? Or is that just 16 new customers at $1 million-plus?

It's a -- that's a combination and it's new customers and existing customers. And we actually have given these numbers before in terms of 8-digit deals and 7-digit deals that we've done. But I thought it was appropriate to kind of roll that out in this quarter, because it is a focus of our company strategically. And because we're able to deliver these 3 solid 8-digit transactions this quarter and the fourth transaction that rolled into the first day of this current quarter. So I would like to continue to focus on big deals, that's the SELA focus, that's getting our own sales force to think more about us being more strategic, being less of a product sell, being more of a solution sell, being more about the social enterprise. And we're rolling that out, testing it and we'll see at Dreamforce what the customer reaction is. Before we end, I also want to encourage you to see me tonight on Cramer with Mad Money, where I'll make further commentary on that.

Alright, I want to apologize to all of you still in the queue, we got to actually less than 1/2 of you today despite the number of questions. The good news is Dreamforce is just around the corner, so you all have a plenty of Q&A time with Marc, Graham, George Hu, Alex Dayon, Byron Sebastian, the list goes on and on. The 2 key dates for analysts are August 31 and September 1. In addition to a keynote each day, for Marc and other senior execs, Graham will now be hosting an analyst session on the afternoon of 31st. So I encourage all of you to register. If you haven't already done so, you can go to our main website, click on Dreamforce registration, and then click the financial analyst button. That closes our call today. We look forward to seeing you 2 weeks at Dreamforce.

And see you in 25 minutes on Cramer.

Goodbye now.

Ladies and gentlemen, this does conclude today's conference. Thank you for your participation. You may now disconnect.