FMP
Jul 25, 2024 12:54 PM - Davit Kirakosyan
ServiceNow (NYSE:NOW) experienced a notable increase of more than 6% in its share price pre-market today following the announcement of higher annual subscription guidance and impressive fiscal Q2 results. The software company also revealed that COO CJ Desai had left, with Chris Bedi stepping in as interim Chief Product Officer.
ServiceNow reported adjusted earnings of $3.13 per share on revenue of $2.63 billion, surpassing Wall Street estimates of $2.82 per share on revenue of $2.60 billion.
Subscription revenues for Q2 grew by 23% to $2.54 billion compared to the same period last year, driven by new business acquisitions. The company recorded 88 transactions exceeding $1 million in net new annual contract value (ACV) in Q2, a 26% increase year-over-year, significantly boosting its backlog.
ServiceNow's remaining performance obligations (RPO) reached $18.6 billion as of Q2, marking a 31% growth year-over-year. Looking forward, the company raised its subscription revenue guidance to a range of $2.66 billion to $2.67 billion, up from the previous range of $2.525 billion to $2.530 billion.
Jan 16, 2024 4:18 PM - Samuel Abdelshahid
In the hustle and bustle of the trading world, having a trustworthy laptop is like having a reliable partner by your side. Making well-informed decisions and staying ahead of market trends become second nature with the right device. However, the quest for a budget-friendly trading laptop t...
Jan 21, 2024 4:00 AM - Parth Sanghvi
Introduction: In the world of financial analysis, a profound grasp of essential profitability metrics is vital. This blog delves into three pivotal metrics—ROE (Return on Equity), ROA (Return on Assets), and Net Profit Margin—offering clear insights without unnecessary complexity. Exploring RO...
May 14, 2024 11:41 AM - Sanzhi Kobzhan
A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...