The cloud computing giant ServiceNow announced the data for the past quarter after the market release yesterday, and it is convincing. However, investors do not seem to want to really admit this. A few hours later, the share dropped by about 4%.
Overall, ServiceNow’s earnings per share were $1.23, an increase of 73% over the previous year. The average analyst expectation is $1.01.
Sales were 1.08 billion US dollars, an increase of 24% over the previous year. The average analyst forecast is $1.01 billion.
Subscription sales increased significantly (32%), reaching 1.02 billion USD, again impressive.
prediction
For the third quarter of 2020, ServiceNow expects sales to be between US$1.055 billion and US$1.060 billion. This is also slightly higher than analyst expectations.
ServiceNow Chief Financial Officer Gina Mastantuono said: “We reached the $4 billion milestone in the second quarter. We exceeded the upper limit of subscription revenue and billing forecasts, while continuing to drive profit margin growth and strong free cash flow.”
ServiceNow’s quarterly report can be found here
ServiceNow once again provided the highest data for the second quarter. The fact that the stock price fell after the trading day was entirely due to the brilliant rebound of paper figures-since the beginning of the year, prices have risen by 60%. Investors clearly want greater returns. Nonetheless, these figures still show positive development unchanged-therefore, investors stayed on the board. New immigrants use reset purchases.
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