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ServiceNow satisfies Q2 targets, revenue tops $246 million

The non-GAAP profit for ServiceNow was $7.3 million, or 4 cents per share.
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Written by Natalie Gagliordi, Contributor on

IT management services company ServiceNow reported second quarter earnings and revenue Wednesday after the bell.

The Santa Clara, Calif.-headquartered company reported a second quarter net loss of $61.9 million, or 40 cents a share, on revenue of $246.72 million, up 48 percent compared to a year ago.

The non-GAAP profit for ServiceNow was $7.3 million, or 4 cents per share.

Wall Street was expecting earnings of 2 cents per share on revenue of $241.04 billion.

ServiceNow CEO Frank Slootman said the company saw particular growth in its emerging product areas during the quarter.

"We also saw a 68 percent year-over-year increase in the total number of customers with annualized contract values in excess of $1 million, demonstrating that customers continue to expand their use of ServiceNow," Slootman said in prepared remarks.

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The company said billings exceeded expectations for quarter, coming in at $281.4 million. ServiceNow also said it added 21 global 2000 customers.

For the third quarter of 2015, ServiceNow expects revenues between $252 million and $257 million. For the year the company expects revenue in the range of $985 million to $1 billion. Wall Street is expecting 2015 revenue of about $990 million.

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