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​ServiceNow posts strong Q4, surpasses $1 billion in annual revenue

ServiceNow delivers strong fourth quarter results and closes out 2015 with more than $1 billion in revenue.
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Written by Larry Dignan, Contributing Editor on

ServiceNow is now in $1 billion in annual revenue enterprise cloud club.

The company closed out 2015 with revenue just above the $1 billion mark, up 47 percent from a year ago. ServiceNow disclosed the milestone with its fourth quarter results. The company started as a IT helpdesk player, but expanded its footprint and became a platform for other business cases.

ServiceNow reported a fourth quarter loss of $37.4 million, or 23 cents a share, on revenue of $285.7 million, up 44 percent from a year ago. Non-GAAP earnings were 19 cents a share.

Wall Street was expecting non-GAAP earnings of 8 cents a share on revenue of $281.4 million for the fourth quarter.

For 2015, ServiceNow reported a net loss of $198.4 million, or $1.27 a share.

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CEO Frank Slootman said ServiceNow had its strongest quarter for large deals and added 26 net new global 2000 companies. ServiceNow has 230 customers with annualized contracts topping $1 million.

As for the outlook, ServiceNow said it expects first quarter revenue to be between $298 million and $303 million. For 2016, ServiceNow projects it will grow at a 33 percent to 36 percent clip with revenue between $1.34 billion and $1.37 billion. ServiceNow expects to hire about 1,000 new employees.

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