ServiceNow (NOW), a software firm focused on its cloud-based software platform, posted its results for the fourth quarter of 2021 on Wednesday, Jan. 26. Revenues for the quarter topped the estimate.
Shares of NOW rose 12.92% in value at 10:14 am EST today.
Fourth-Quarter Earnings
Adjusted earnings came in at $ 1.46 per share, compared to $ 1.17 per share for the same period last year. Forecasters predicted EPS of $ 1.43 per share. Quarterly revenue of $ 1.6 billion is more or less in line with estimates.
CEO Comments
“We are once again reporting results that have far exceeded the high end of expectations,” ServiceNow President and CEO Bill McDermott said in the quarterly report. “Customer demand for the innovative ServiceNow platform is stronger than ever.”
Outlook
“The company is firing all the cylinders and we will enter 2022 with tremendous momentum,” said CFO Gina Mastantuono. “We expect continued currency subscription revenue growth to accelerate year-over-year in Q1, which will set us up for another strong year and put us well on our way to being a $ 15 billion- plus company revenue. ” The company’s full year 2022 GAAP guide currently estimates subscription revenues of $ 7.020 to $ 7.040 billion, representing 26% growth.