ServiceNow reports $3.877 billion in subscription revenue
ServiceNow reported second-quarter results, beating estimates on revenue, earnings, and bookings. Subscription revenue rose 24.5% year over year to $3.877 billion.
The company’s shares had fallen close to 50% over the prior year heading into the report, due to concerns that AI could make the subscription model obsolete.
ServiceNow’s president and CFO said the quarter highlights the company’s broad-based demand. The results come after a period of uncertainty for enterprise software, with some fearing AI agents could replace human support tickets.