Subscription revenue: $1.6 billion, up 26% year-over-year
Non-GAAP net income: $374 million, up 32% year-over-year
Non-GAAP earnings per share: $1.84, up 33% year-over-year
Key Business Metrics
Customers: 1,360, up 17% year-over-year
Annual recurring revenue (ARR): $7.3 billion, up 24% year-over-year
Remaining performance obligation (RPO): $10.5 billion, up 28% year-over-year
Market Outlook
ServiceNow remains optimistic about the future, citing the growing demand for digital transformation initiatives. The company expects to continue to grow its revenue and profitability in the coming quarters.
CEO Commentary
“We had a strong quarter, with revenue and earnings exceeding expectations,” said Bill McDermott, CEO of ServiceNow. “Our customers are increasingly turning to ServiceNow to help them transform their businesses and create new value.”
Analyst Commentary
Analysts are bullish on ServiceNow’s future prospects.
“ServiceNow continues to execute well and deliver strong results,” said Keith Bachman, an analyst at Bank of America. “We believe the company is well-positioned to continue to grow in the future.”
Conclusion
ServiceNow’s strong quarterly results are a testament to the company’s continued execution and the growing demand for digital transformation initiatives. The company is well-positioned to continue to grow in the coming quarters.
