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Home / Business / After revenue exceeded expectations, ServiceNow stock rose by nearly 5%

After revenue exceeded expectations, ServiceNow stock rose by nearly 5%



Now ServiceNow Inc.,
-3.15%
Microsoft shares rose nearly 5% in after-hours trading on Wednesday. ServiceNow reported net income of $12.9 million, or 7 cents per share, while net income in the same period last year was $40.6 million, or 22 cents per share. Revenue has soared from US$885.8 million a year ago to US$1.15 billion, an increase of 30%. ServiceNow CEO Bill McDermott told Market Watch after announcing the results: “Digital transformation is accelerating because of the need to redefine working from home, which expands the integration of systems, silos and processes into the overall enterprise. Needs in the work process.” ServiceNow has increased its guidance for the whole year after disclosing that its 1

,012 customers’ annual contract value exceeds $1 million, a year-on-year increase of 25%. This includes 41 such transactions in the third quarter. On average, analysts surveyed by FactSet expect its quarterly earnings per share of $1.03 and revenue of $1.1 billion. As the impact of the pandemic continues to be felt, ServiceNow’s stock price has risen nearly 72% this year. S&P 500 Index SPX,
-3.52%
Increase by 1% by 2020.


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