ServiceNow published its financial results for the first quarter of 2017 on Wednesday, exceeding market expectations.
The company, which specializes in automating work flows, reported non-GAAP earnings of 24 cents per diluted share on revenues of $416.8 million, representing 36 percent year-over-year growth.
Wall Street was looking for earnings of 17 cents per share on revenue of $409 million.
The company saw strong growth in subscription revenues, which rose 43 percent year-over-year to reach $382.7 million. Professional services and other revenues came in at $41.3 million, representing 8 percent year-over-year growth.
"We're off to a strong start in Q1, continuing to diversify our business mix," ServiceNow CEO John Donahoe said in a statement. "Now 73 percent of all our customers license more than one product up from 50 percent two years ago."
The company added 26 new Global 2000 customers in Q1, compared to 21 in the same period last year, noted CFO Michael Scarpelli. ServiceNow has 370 customers each paying more than $1 million in annualized contract value.
For the second quarter of 2017, ServiceNow expects total revenues between $458 and $463 million. For the full year 2017, the company expects revenues between $1,860 and $1,880 million.
Citrix also reported fiscal first quarter earnings, which managed to come in just above estimates. The company reported a net income of $27.6 million, or 44 cents a share, on revenue of $663 million, up one percent from a year ago. Non-GAAP earnings were 97 cents a share.
Wall Street was looking for earnings of 95 cents a share on revenue of $664 million.
For the outlook, Citrix expects Q2 revenue between $685 million and $695 million, with EPS between 97 cents to $1.
Meanwhile, F5 Networks reported its Q2 2017 results, missing market estimates. The company reported non-GAAP net income of $127 million, or $1.95 per diluted share, on revenue of $518.2 million.
Wall Street was looking for earnings of $1.97 per share on revenue of $523 million.
For the third quarter of fiscal 2017, F5 has set a revenue goal of $520 million to $530 million with a non-GAAP earnings target of $2.01 to $2.04 per diluted share.