ServiceNow delivers strong Q4 as it expands wallet share
Summary
ServiceNows revenue in the fourth quarter jumped 31% and earnings were better than expected amid strong demand. CEO Bill McDermott said ServiceNow closed 89 transactions worth more than $1 million in net new annual contract value. McDermott added that ServiceNow is seeing gains due to "secular tailwinds of digital transformation, cloud computing, and business model innovation." ServiceNow said it saw adoption across its IT, employee and customer workflow businesses and strength in AI and machine learning. The secular tailwinds of digital transformation, cloud computing and business model innovation have all intersected at a perfect moment in time.
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IT Services
Cloud Computing
Enterprise Software
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ServiceNow, Inc.
$1B+