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ServiceNow Inc (NYSE:NOW) reported stronger-than-expected financial results for the second quarter on Wednesday.
ServiceNow reported second-quarter revenue of $2.627 billion, beating the consensus estimate of $2.607 billion, according to Benzinga Pro. The company reported quarterly earnings of $3.13 per share, beating analyst estimates of $2.84 per share, according to data from Benzinga Pro.
"ServiceNow's elite-level execution is reflected in our continued outperformance across all topline growth and profitability metrics," said Bill McDermott, chairman and CEO of ServiceNow. "Our relevance as the AI platform for business transformation remains stronger than ever as CEOs are looking for new vectors of growth, simplification, and digitization. ServiceNow intends to reinvent every workflow, in every company, in every industry with GenAI at the core."
ServiceNow said it expects third-quarter subscription revenue of $2.66 billion to $2.665 billion, representing growth of 20% to 20.5% on a year-over-year basis. The company also guided for a third-quarter operating margin of 29.5%. ServiceNow sees full-year 2024 subscription revenue in the range of $10.575 billion and $10.585 billion.
ServiceNow shares gained 15.5% to trade at $843.97 on Thursday.
These analysts made changes to their price targets on ServiceNow following the announcement.
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Posted In: NOW