The cloud giant ServiceNow announced today the data for the just-concluded third quarter, which is convincing. Not only did the Californians greatly exceed analyst expectations, they also raised their forecasts. Therefore, the company led by Bill McDermott is still on the road to success.
Overall, ServiceNow’s sales increased by 27% to $1.14 billion. Analysts only assume $1.11 billion. Subscription revenue increased by 31%, reaching $1.09 billion. Earnings per share were $1.21 (consensus: $1.03).
The number of customers with an annual order value of more than $1 million is 1,012.
Forecast increase
The company now predicts that by 2020, subscription revenue will grow 34%, reaching $4,257, reaching $4.262 billion. Before: 4.185 to 4.20 billion.
“In a challenging pandemic environment, the third quarter was a fantastic quarter for ServiceNow. We exceeded the expected ceiling and highlighted the performance of our product portfolio. We saw strong momentum in the last quarter of 2020 , And the strong channel made me Gina Mastantuono, ServiceNow’s Chief Financial Officer, said: “I am confident that we will successfully carry out work before 2021.
Here you can find quarterly data for ServiceNow
ServiceNow’s stock price reacted positively to the number, rising more than 6% shortly before the stock market closed. ServiceNow does provide an excellent set of data, so it highlights its ambition to increase revenue within a few years. The strong growth in subscription revenue and the forecasted growth are particularly impressive. Obviously, the corona crisis has become the top priority of software providers. The following conditions also apply here: investors should not give up. Newcomers use.
Explanation of possible conflicts of interest:
The author Emil Jusifov directly holds a position in the following financial instruments mentioned in the publication or related derivatives that can benefit from the price increase generated by the publication: ServiceNow.
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