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ServiceNow Reports Q1 Subscription Revenue Up 19% in Constant Currency
ServiceNow Inc. announced first-quarter results that exceeded company guidance, driven by AI deployments. Subscription revenue rose 19% in constant currency, and remaining performance obligations grew significantly. CEO Bill McDermott highlighted AI as a major tailwind for the company.
Apr 25, 3:51 PM·1m read1 source
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ServiceNow Inc. (NYSE: NOW) reported first-quarter results that topped company guidance, with customers moving from AI experiments into broader deployments. ' He noted that ServiceNow sits inside a total addressable market of more than $600 billion.
Remaining performance obligations stood at $28 billion, up from prior periods. Subscription revenue rose 19% in constant currency during the first quarter. Current remaining performance obligations grew 21% in constant currency.
ServiceNow's operating margin reached 32%.
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