ServiceNow reported Q2 2024 revenue of $2.627bn, exceeding estimates and showing a 22% YoY increase.
ServiceNow reported Q2 2024 revenue of $2.627bn, beating consensus estimates of $2.607bn, and a year-over-year increase of 22%. Subscription revenues were up 23% YoY. ServiceNow has remaining performance obligations of $18.6bn, an increase of 31% YoY. CEO Bill McDermott stated that the company's execution is reflected in its robust financial performance. ServiceNow raised its full-year subscription revenue forecast, driven by enterprise customers' adoption of AI-enabled cloud-based software, strong US federal business, and growing AI software adoption.
July 24, 2024
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