ServiceNow Outpaces Adobe With 21% Revenue Growth, AI Demand Surge

ServiceNow's Q4 revenue rose 20.7% to $3.57 billion, driven by AI workflow demand, while Adobe posted steady 13% growth amid leadership changes. ServiceNow reported Q4 revenue of $3.57 billion, up 20.7% year over year, with current remaining performance obligations (cRPO)

ServiceNow’s Q4 revenue rose 20.7% to $3.57 billion, driven by AI workflow demand, while Adobe posted steady 13% growth amid leadership changes.

ServiceNow reported Q4 revenue of $3.57 billion, up 20.7% year over year, with current remaining performance obligations (cRPO) climbing 25% to $12.85 billion. The company highlighted 244 deals above $1 million in net new annual contract value (ACV), driven by demand for its Now Assist AI platform, which more than doubled in ACV.

Adobe posted Q2 revenue of $6.62 billion, a 13% increase, with non-GAAP EPS of $5.96. AI-first annual recurring revenue (ARR) surpassed $500 million, tripling year over year, while the integration of Semrush contributed roughly $480 million. The company also announced leadership changes, including a CEO succession and CFO departure.

ServiceNow’s forward P/E stands at 24x, compared to Adobe’s 8x, reflecting differing growth profiles. Both companies are navigating AI competition, but ServiceNow’s enterprise AI workflow focus appears to be driving stronger momentum.

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