ServiceNow, Inc. NOW shares are trading slightly lower after the company reported better-than-expected fourth-quarter financial results after the market close Wednesday.
The Details:
ServiceNow reported quarterly earnings of $3.11 per share which beat the analyst consensus estimate of $2.79 by 11.47%. The company reported quarterly sales of $2.44 billion, beating the analyst consensus estimate of $2.4 billion by 1.61% and representing a 25.62% increase over sales of $1.94 billion from the same period last year.
ServiceNow exceeded its guidance across all fourth-quarter topline growth and profitability metrics and raised its 2024 subscription revenues and operating margin outlook. The company now sees first-quarter subscription revenues to between $2.51 billion and $2.515 billion and first-quarter operating margin at 29%.
"ServiceNow closed out the year with another outstanding quarter," said ServiceNow CEO Bill McDermott.
"Generative AI is injecting new fuel into our already high‑performing engine. ServiceNow's intelligent platform for end‑to‑end digital transformation is driving massive leaps in productivity and explosive growth. This is a breakthrough moment.”
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NOW Price Action: According to data from Benzinga Pro, ServiceNow shares are trading down 0.64% at $760.00 at the time of publication.
Image: Gerd Altmann from Pixabay
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