Form 8-K · Current Report · Filed 2024-04-24
ServiceNow Announces Strong Q1 2024 Financial Results, Exceeding Guidance
ServiceNow, Inc. announced its financial results for the first quarter of 2024, reporting a 25% year-over-year growth in subscription revenues to $2,523 million, and a 24% growth in total revenues to $2,603 million. The company also raised its midpoint of 2024 subscription revenues guidance range and highlighted its GenAI-powered product, Now Assist, as a key driver of growth. Current remaining performance obligations (cRPO) grew 21% year-over-year to $8.45 billion. Additionally, the company repurchased 225,000 shares of its common stock for $175 million as part of its share repurchase program.
- Filer
- ServiceNow Inc. NOW · NYSE
- Filed
- Accession
- 0001373715-24-000163
- CIK
- 0001373715
- Signal
- High impactTechnology
- Source
- Official filing on sec.gov ↗
Items reported
Results of Operations and Financial Condition
Financial Statements and Exhibits
Market reaction
Close before filing
$148.19
Next session
-3.3%
Since filing
-24.9%
Latest close
$111.23
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from NOW reporting the same item, with the next session's move:
Exhibits (1)
About ServiceNow Inc.
ServiceNow Inc. is a leading enterprise cloud computing platform that specializes in digital workflow automation. Its primary function is to provide a comprehensive suite of cloud-based solutions that help organizations manage and structure their IT service management (ITSM), IT operations, customer service, HR service delivery, and other crucial business functions. Notable features of ServiceNow include its ability to integrate various business processes, enhancing efficiency, reducing costs, and improving service delivery across IT and other operational sectors. Serving industries such as finance, healthcare, telecommunications, and government, ServiceNow has a significant impact on how organizations modernize and automate their internal processes. With an emphasis on innovation, ServiceNow's platform enables businesses to increase productivity by streamlining operations and leveraging data analytics. Recognized as a transformative force in the IT service management sector, ServiceNow continues to lead digital transformation initiatives for enterprises worldwide, reinforcing its essential role in the cloud-based solutions market.
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