ServiceNow reported better-than-expected second-quarter results and improved its outlook for the third quarter.
The company reported revenue of $1.41 billion in the second quarter, an increase of 27% year-on-year. ServiceNow’s net income for the second quarter was $59 million, or 29 cents per share. Non-GAAP earnings for the quarter were $1.42 per share.
Wall Street expects ServiceNow’s second-quarter revenue of $1.36 billion and non-GAAP earnings per share of $1.22.
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ServiceNow had 1,201 customers with contracts worth more than $1 million at the end of the quarter, a year-on-year increase of 25%. Subscription revenue was $1.33 billion. Chief Executive Bill McDermott (Bill McDermott) said that as the company reorganizes its work processes in the digitization process, there is strong demand for ServiceNow. ServiceNow Chief Financial Officer Gina Mastantuono said that the company sees strong demand in all products and regions.
As for the prospects, ServiceNow expects subscription revenue in the third quarter to be between US$1.4 billion and US$1.405 billion, or an increase of 28% to 29%. For 2021, ServiceNow expects subscription revenue to be between US$5.53 billion and US$5.54 billion.
ServiceNow has been able to sell its Now platform in more use cases and workflows.
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