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Will ServiceNow achieve a subscription gross profit margin of 85% or higher for FY24?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
ServiceNow's official FY24 financial report
Story
ServiceNow Exceeds Q3 Earnings Expectations with $2.797B Revenue and $3.72 EPS; Stock Falls 1.28%
Oct 23, 2024, 08:18 PM
ServiceNow reported its Q3 2024 earnings after the market close, surpassing analyst expectations. The company achieved total revenues of $2.797 billion, a 22% year-over-year increase, compared to the estimated $2.74 billion. Subscription revenues were $2.715 billion, up 23% year-over-year. The earnings per share (EPS) was reported at $3.72, exceeding the estimated $3.46. ServiceNow also reported a net income of $775 million and a free cash flow of $471 million. The company raised its FY24 subscription revenue guidance and expects a subscription gross profit margin of 84.5%. The company's market cap is $186.34 billion, and its remaining performance obligations (RPO) are $19.5 billion. Despite the strong results, the stock fell 1.28% in after-hours trading.
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