ServiceNow delivers strong Q4, almost hits $2 billion in annual revenue

The company delivered strong results as it inks larger enterprise deals.

ServiceNow posted a strong fourth quarter as the company signed 41 customer deals worth more than $1 million.

The company reported fourth quarter non-GAAP earnings of $63.6 million, or 35 cents a share on revenue of $546.4 million, up 44 percent from a year ago. ServiceNow reported a fourth quarter net loss of $27.8 million, or 16 cents a share.

Wall Street was expecting earnings of 35 cents a share on revenue of $534.8 million.

For 2017, ServiceNow reported a net loss of $149.1 million on revenue of $1.93 billion. On a non-GAAP basis, ServiceNow reported a profit of $214.7 million, or $1.19 a share.

As for the outlook, ServiceNow said it will deliver subscription revenue of $525 million to $530 million. For 2018, ServiceNow projected subscription revenue of $2.35 billion to $2.37 billion with growth of 35 percent to 37 percent.

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