ServiceNow Inc

NOW

Equity

ISIN US81762P1021 / Valor 18868154

New York Stock Exchange, Inc (2024-11-21)

USD 1,047.05+2.35%

ServiceNow Inc
UMushroom community rating:

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About company

ServiceNow Inc is a cloud-based platform that provides IT service management, as well as a range of other business process automation services.

Summarized from source with an LLMView SourceSector: Technology

Subscription Revenue Growth

ServiceNow Inc reported subscription revenues of $2,542 million for the second quarter of 2024, marking a 23% year-over-year growth. This growth was consistent in constant currency terms as well, reflecting the company's strong performance in its core business operations.

Total Revenue Increase

For Q2 2024, ServiceNow Inc achieved total revenues of $2,627 million, representing a 22% increase compared to the same period last year. This growth underscores the company's expanding market presence and successful customer acquisition strategies.

Performance Obligations

As of June 30, 2024, ServiceNow Inc's current remaining performance obligations (cRPO) stood at $8.78 billion, showing a 22% year-over-year growth. This metric indicates the future revenue the company expects to recognize from existing contracts over the next 12 months.

Profit Margins

ServiceNow Inc reported a total gross profit of $2,075 million for Q2 2024, with a gross margin of 79%. On a non-GAAP basis, the total gross profit was $2,170 million, reflecting an 83% gross margin, highlighting the company's efficient cost management and operational effectiveness.

Cash Flow

In the second quarter of 2024, ServiceNow Inc generated $620 million in net cash from operating activities, a 24% increase year-over-year. The company's free cash flow for the quarter was $359 million, demonstrating strong cash generation capabilities to support future growth initiatives.

Summarized from source with an LLMView Source

Key figures

56.7%1Y

54.9%3Y

275%5Y

Performance

33.1%1Y

42.6%3Y

42.3%5Y

Volatility