ServiceNow Delivers Q2 Earnings Beat, Highlights 'Unprecedented Demand,' Taps Nvidia For AI Lighthouse Launch, Shares Slide
Portfolio Pulse from Adam Eckert
ServiceNow Inc (NYSE:NOW) reported Q2 earnings that beat estimates, with revenues up 23% YoY. The company raised its Q3 subscription revenue guidance to a range of $2.185 billion to $2.195 billion, representing YoY growth of 25.5% to 26%. ServiceNow also announced a partnership with Nvidia and Accenture for the launch of AI Lighthouse, a program designed to fast-track the development and adoption of enterprise generative AI capabilities. Despite the positive news, ServiceNow shares were down 3.03% in after-hours trading.
July 26, 2023 | 8:46 pm
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ServiceNow reported strong Q2 results and raised its Q3 guidance, indicating a positive outlook. However, the stock price fell 3.03% in after-hours trading, suggesting that the market may have expected even better results or is reacting to other factors.
ServiceNow's strong Q2 results and raised Q3 guidance indicate a positive outlook for the company. However, the stock price fell in after-hours trading, suggesting that the market may have expected even better results or is reacting to other factors. The announcement of the AI Lighthouse partnership could also have long-term positive implications for the company, but its immediate impact on the stock price is unclear.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100