Bill McDermott, Chairman, President & CEO ServiceNow, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024.
ServiceNow posted strong second-quarter results and lifted its guidance Wednesday. Shares climbed 7% following the report.
Here's how the company performed compared to LSEG estimates:
Earnings per share: $4.09 adjusted vs. $3.57 expected
$4.09 adjusted vs. $3.57 expected Revenue: $3.22 billion vs. 3.12 billion expected
Subscription revenues, which account for the majority of the enterprise technology company's revenues, hit $3.11 billion and topped a $3.03 billion forecast from StreetAccount.
The company boosted its full-year subscription revenue guidance to between $12.775 billion and $12.795 billion as it benefits from artificial intelligence adoption.
"Every business process in every industry is being refactored for agentic AI," said ServiceNow chairman and CEO Bill McDermott in a release.
Net income grew 47% to $385 million, or $1.84 per share, from $262 million, or $1.26 per share a year ago. Revenues grew nearly 23% to about $3.22 billion.