ServiceNow's sales and earnings beat Wall Street's expectations in Q2, and the stock is soaring. Artificial intelligence helped power strong revenue and margins in the quarter.
Shares of ServiceNow (NOW) soared to an all-time high after the IT services firm posted a big jump in subscriptions revenue as it benefited from soaring demand for artificial intelligence (AI) products.
ServiceNow Inc NOW reported stronger-than-expected financial results for the second quarter on Wednesday.
ServiceNow's (NOW) second-quarter 2024 results reflect a strong uptake of the company's digital workflow and growing demand for generative AI solutions.
ServiceNow has a ‘solidifying position as one of the few true AI beneficiaries in software,' an analyst says
ServiceNow stock jumped 6% premarket after the earnings report. The company is on the path to becoming a megacap stock. Investors are getting a fair entry price at 35x next year's free cash flow. +20% premium growth sustainable in the medium term. ServiceNow's near-term prospects are strong, with solid revenue growth rates pointing to 23% CAGR in 2024.
ServiceNow, Inc. (NYSE:NOW ) Q2 2024 Earnings Conference Call July 24, 2024 5:00 PM ET Company Participants Darren Yip - VP, IR William McDermott - Chairman & CEO Gina Mastantuono - CFO Conference Call Participants Sanjit Singh - Morgan Stanley Raimo Lenschow - Barclays Kash Rangan - Goldman Sachs Peter Weed - Bernstein Samad Samana - Jefferies Karl Keirstead - UBS Brad Sills - Bank of America Securities Kirk Materne - Evercore ISI Alex Zukin - Wolfe Research Mark Murphy - JPMorgan Joel Fishbein - Truist Securities Robbie Owens - Piper Sandler Brad Zelnick - Deutsche Bank Michael Cikos - Needham Matt Hedberg - RBC Capital Markets Operator Thank you for standing by. My name is JL, and I will be your conference operator today.
While the top- and bottom-line numbers for ServiceNow (NOW) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Chipotle (CMG) beat earnings estimates for the sixth-straight quarter, and ServiceNow (NOW) has never missed.
ServiceNow (NOW) came out with quarterly earnings of $3.13 per share, beating the Zacks Consensus Estimate of $2.85 per share. This compares to earnings of $2.37 per share a year ago.
NEW YORK CITY, NY / ACCESSWIRE / July 24, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of ServiceNow, Inc. ("ServiceNow" or "the Company") (NYSE:NOW). Investors who purchased ServiceNow securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/NOW.
Artificial intelligence ( AI ) has been a hot topic for quite some time. With the promise of enhancing productivity, efficiency and daily life, it's no wonder the topic has so much interest.