ServiceNow's Q1 strong as company's workflow automation tools gain traction
ServiceNow reported better-than-expected first quarter earnings as it now has 1,146 customers with more than $1 million in annual contract volume.
The company reported first quarter revenue of $1.36 billion, up 30% from a year ago. ServiceNow reported first quarter net income of $82 million, or 41 cents a share. Non-GAAP earnings were $1.52 a share.
Wall Street was expecting ServiceNow to report first quarter revenue of $1.34 billion with non-GAAP earnings of $1.34 a share.
ServiceNow CEO Bill McDermott said the company has doubled features and functionality over the past 18 months.
Key items in the quarter include:
- ServiceNow launches unified agent platform, aims to meld diagnostics with incident automation
- ServiceNow IT Operations Management adds Oracle Cloud integrations
- ServiceNow, Qualtrics partner, aim to meld sentiment data and workflows
- ServiceNow acquires Hyderabad-based RPA company Intellibot
- ServiceNow's vaccine management platform adopted by Department of Homeland Security
- ServiceNow's Quebec release of Now Platform includes low-code, native AI tools
Here's a look at customer growth as well as revenue across product lines. ServiceNow's platform is focused on IT, employee, customer and creator workflows.
