ServiceNow shares pop 15% on strong earnings, upbeat guidance

Bill McDermott, chairman and CEO of ServiceNow, speaks during an interview on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 26, 2023. "While our business remains strong, we are only flowing through part of those benefits into our full‑year outlook," to account for any pending risks from the geopolitical environment, the company said in a release. ServiceNow reported net income of $460 million, or $2.20 per share. That's up from $347 million, or $1.67 per share in the year-ago quarter. Current remaining performance obligations reached $10.3 billion, jumping 22% year over year. The company also lifted its full-year forecast. The enterprise technology company posted adjusted earnings of $4.04 per share on $3.09 billion in revenue. That topped a consensus estimate of $3.83 in EPS and $3.08 billion in sales, according to LSEG. Revenues grew about 19% from a year ago. ServiceNow shares surged 15% on stronger-than-expected first-quarter results and an upb ... Read full article.