From Nasdaq: 2024-06-25 15:00:00

ServiceNow’s workflow solutions are being adopted by enterprises in digital transformation. Expanding AI-powered capabilities are driving growth. IDC predicts AI spending to surpass $500 billion by 2027, benefitting ServiceNow. 2024 revenue estimate revisions suggest strong growth. NOW stock has underperformed, but its innovative portfolio and partner base are strong.

ServiceNow introduced advanced features to streamline operations and enhance GenAI adoption. New AI capabilities for talent development and employee productivity. NOW ended Q1 with 1933 customers with over $1 million in ACV. Strong GenAI sales led to record-breaking net new ACV. Collaboration with partners like Microsoft and IBM boosts AI capabilities.

ServiceNow’s 2024 revenue expectations show significant growth. Subscriptions revenues estimated to reach $10.88 billion, a 21.31% increase YoY. Operating margin projected at 29%. 2024 earnings per share estimated at $13.51, potential 25.32% YoY increase. ServiceNow stock has underperformed, but innovative portfolio and strong financial outlook remain promising.



Read more at Nasdaq: Does ServiceNow’s (NOW) AI Prowess Make the Stock a Buy?