The huge growth story of ServiceNow continues. The company has achieved record performance in the past quarter and therefore exceeded analyst expectations. In particular, the important cloud business recorded significant growth during the year.
The California-based cloud provider’s subscription revenue in the fourth quarter of 2019 increased by 35% to $899 million, and total revenue increased by 33% to $952 million. As ServiceNow announced after the US market closed on Wednesday, adjusted earnings increased by 25% to $0.96 per share.
The company has a very loyal customer base and knows how to achieve growth through organic growth (the number of customers has increased by more than 32% during the year) and through strategic takeover. Recently, Israeli start-up company Loom Systems was taken over, the company provides solutions for proactively predicting and preventing IT incidents. Shareholder report.
ServiceNow quarterly data for the fourth quarter of 2019
After the trading hours, ServiceNow’s share increased by nearly 7%, reaching a record high. Unfortunately, the recommendation to SHAREHOLDER was discontinued in the fourth quarter of 2019. Investors observe the shares on the watch list and wait for the frustration to reappear.
The author Emil Jusifov directly took a position on the following financial instruments mentioned in the publication or related derivatives that could benefit from any resulting price increases: ServiceNow.
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