ServiceNow (NOW) on Wednesday reported December-quarter earnings that topped views whereas income development solely met expectations. NOW inventory tumbled, although 2023 subscription income steerage got here in above expectations.
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Reporting after the shut, the Santa Clara, Calif-based enterprise software program maker stated earnings climbed 46% to $2.28 per adjusted share. Income climbed 20% to $1.94 billion, ServiceNow stated.
A 12 months earlier, ServiceNow earned $1.46 a share on gross sales of $1.61 billion. Analysts anticipated ServiceNow to report earnings of $2.02 a share on income of $1.94 billion for the interval, which ended Dec. 31.
As well as, ServiceNow stated subscription income rose 22% to $1.86 billion, topping estimates of $1.84 billion.
NOW Inventory: Income Outlook Tops Views
In the meantime, NOW inventory fell 7.6% to close 414 in prolonged buying and selling on the inventory market at present.
The enterprise software program maker stated it expects full-year 2023 subscription income in a variety of $8.44 billion to $8.5 billion. Analysts predicted subscription income of $8.36
The corporate’s software program tracks and manages companies supplied by information-technology departments. Its self-service tech portal allows firm staff to entry administrative and workflow instruments.
Additional, ServiceNow has expanded from its core enterprise into software program for human assets, customer support administration and safety.
Heading into the ServiceNow earnings report, NOW inventory had gained 14% in 2023.
Comply with Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wi-fi, synthetic intelligence, cybersecurity and cloud computing.
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