ServiceNow Shares Surge 10% in Q3 Beat By

© Reuters. ServiceNow Shares Surge 10% on Q3 Beat

By Davit Kirakosyan

Shares of ServiceNow (NYSE: ) rose more than 10% after hours after the company reported, with EPS of $1.96 better than the consensus estimate of $1.85. Revenue was $1.93 billion, which was above the consensus estimate of $1.85 billion.

Subscription revenues grew 22% year-over-year (up 28.5% adjusted for constant currency) to $1.742 billion. Current outstanding performance obligations are $5.87, representing 18% year-over-year growth (up 25% adjusted for constant currency).

“Once again, ServiceNow beat our top and bottom line goals. Enterprises are leaning towards a generational shift from architectures built last century to platforms built for it. Through superior experiences for customers, employees, and creators, ServiceNow is becoming the strategic center of gravity for digital transformation. Our focus on creating value is unmatched,” said ServiceNow Chairman and CEO Bill McDermott.

For the full 2022-year, the company expects subscription revenues to be in the range of $6.865 – $6.870 billion.

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