ServiceNow reports 33% sales growth

As the head of ServiceNow in November, Bill McDermott must be happy. Even if not a lot, the former boss of SAP can announce new quarterly growth. IT service management experts did record 4^day Quarterly sales were 951.8 million euros, an increase of 33% over the same period last year. Subscriptions increased by 35% to 899.2 million euros. During this period, the company has obtained 76 transactions with a transaction value of more than $1 million, which is even an increase of 49% over the same period last year, a record high, which makes it proud. As a result of one-time savings of $574 million in taxes, net income jumped to $598.7 million, or $3.17 per share.

“ServiceNow broke the upper limit of the forecast range for the fourth quarter, and this year was very strong. In the fourth quarter, we recorded record transactions and a significant expansion of the Now platform” Bill McDermott said in a statement. “ServiceNow meticulously arranges the needs of each business-the workflow to create a great experience. As customers from all walks of life rush to adopt the simplicity provided by ServiceNow, digital transformation is driving our momentum.”

Annual sales reached US$3.26 billion, an increase of 33% over 2018. As a result of tax savings, Santa Clara achieved a profitable net income of $626.7 million, or $3.36 per share.

For the first quarter of 2020, the company expects subscription revenue to be between US$975 million and US$980 million, with an operating margin of 22%. The annual subscription revenue is expected to be between US$4.22 billion and US$4.24 billion, with an operating profit margin of 22%.