ServiceNow Inc (NYSE:NOW) reported financial results for the first quarter after the market close on Wednesday. Here’s a rundown of the report.
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ServiceNow Q1 Highlights
ServiceNow posted first-quarter revenue of approximately $3.77 billion, beating the consensus estimate of $3.74 billion, according to Benzinga Pro. The software solutions company reported adjusted earnings of 97 cents per share for the quarter, narrowly beating analyst estimates of 96 cents per share.
Total revenue increased 22% year-over-year as Subscription revenue jumped 22%. ServiceNow said it had remaining performance obligations of $27.7 billion at quarter’s end, up 25% year-over-year. The company noted that Now Assist customers spending over $1 million in annual contract value grew 130% year-over-year.
“As new technologies create both opportunity and risk, our two decades of engineering combined with …
