ServiceNow Reports Better-Than-Expected Q4 Results
Portfolio Pulse from Erica Kollmann
ServiceNow, Inc. (NYSE:NOW) reported Q4 earnings of $3.11 per share, surpassing estimates of $2.79, and sales of $2.44 billion, exceeding estimates of $2.4 billion. The results represent a 25.62% increase in sales year-over-year. The company also raised its 2024 subscription revenues and operating margin outlook, with Q1 subscription revenues expected between $2.51 billion and $2.515 billion and operating margin at 29%. Despite the positive report, ServiceNow shares traded down 0.64% post-announcement.
January 24, 2024 | 9:41 pm
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ServiceNow reported strong Q4 results with earnings and sales beating estimates and a positive outlook for 2024, but shares saw a slight decline.
Despite the post-earnings dip, ServiceNow's strong performance and raised guidance for 2024 are likely to bolster investor confidence and could lead to a positive short-term impact on the stock price as the market digests the news.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100