NOW - ServiceNow Inc. (NOW) Q1 2024 Earnings Call Transcript
2024-04-24 18:24:09 ET
ServiceNow, Inc. (NOW)
Q1 2024 Earnings Conference Call
April 24, 2024 05:00 PM ET
Company Participants
Darren Yip - Vice President, Investor Relations
Bill McDermott - Chairman & Chief Executive Officer
Gina Mastantuono - Chief Financial Officer
CJ Desai - President & Chief Operating Officer
Conference Call Participants
Kash Rangan - Goldman Sachs
Karl Keirstead - UBS
Matt Hedberg - RBC Capital Markets
Brad Sills - Bank of America Securities
Sanjit Singh - Morgan Stanley
Keith Bachman - BMO
Tyler Radke - Citi
Gregg Moskowitz - Mizuho
Brad Zelnick - Deutsche Bank
Mark Murphy - JPMorgan
Samad Samana - Jefferies
Patrick Walravens - JMP Securities
John DiFucci - Guggenheim
Alex Zukin - Wolfe Research
Michael Turrin - Wells Fargo Securities
Derrick Wood - Cowen
Presentation
Operator
Good day, everyone, and welcome to the First Quarter 2024 ServiceNow Earnings Conference Call. Today's call is being recorded. I would now like to turn the call over to Darren Yip, Group Vice President of Investor Relations. Please go ahead.
Darren Yip
Good afternoon, and thank you for joining ServiceNow's first quarter 2024 earnings conference call. Joining me are Bill McDermott, our Chairman and Chief Executive Officer; Gina Mastantuono, our Chief Financial Officer; and CJ Desai, our President and Chief Operating Officer. During today's call, we will review our first quarter 2024 results and discuss our guidance for the second quarter and full year 2024.
Before we get started, we want to emphasize that the information discussed on this call, including our guidance is based on information as of today and contains forward-looking statements that involve risks, uncertainties and assumptions. We undertake no duty or obligation to update such statements as a result of new information or future events.
Please refer to today's earnings press release and our SEC filings, including our most recent 10-Q and 2023 10-K for factors that may cause actual results to differ materially from our forward-looking statements.
We'd also like to point out that we present non-GAAP measures in addition to and not as a substitute for financial measures calculated in accordance with GAAP. Unless otherwise noted, all financial measures and related growth rates we discuss today are non-GAAP except for revenues, remaining performance obligations, or RPO, current RPO and cash and investments.
To see the reconciliation between these non-GAAP and GAAP measures, please refer to today's earnings press release and investor presentation, which are both posted on our website at investors.servicenow.com. A replay of today's call will also be posted on our website.
With that, I'll turn the call over to Bill.
Bill McDermott
Thank you very much, Darren, and thank you, everyone, for joining today's call. ServiceNow's first quarter results were outstanding. We once again outperformed our guidance across all top line and profitability metrics. Subscription revenue grew by 24.5% year-over-year in constant currency. That's approximately 50 basis points above the high end of our guidance....
ServiceNow, Inc. (NOW) Q1 2024 Earnings Call Transcript