ServiceNow Inc. (NYSE:NOW) is pitching artificial intelligence as a growth engine, not a threat, after first-quarter results topped company guidance.
The enterprise software company said customers are moving from AI experiments into broader deployments, according to the ServiceNow earnings call transcript.
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CEO Frames AI As Tailwind
Bill McDermott, ServiceNow’s chairman and CEO, rejected concerns that AI could weaken the business. “There has never been a tailwind for ServiceNow like AI,” McDermott said on the call.
He said ServiceNow sits inside a more than $600 billion total addressable market. He also said the company operates with $28 billion in remaining performance obligations.
Subscription revenue rose 19% in constant currency during the first quarter. Current remaining performance obligations grew 21% in constant currency. Operating margin reached 32%, while free cash flow margin …
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