NOW - Why ServiceNow Stock Is Surging Today
2024-07-25 15:34:22 ET
ServiceNow (NYSE: NOW) stock is making big gains in Thursday's trading. The software company's share price was up 15.1% as of 1:30 p.m. ET, according to data from S&P Global Market Intelligence .
ServiceNow reported second-quarter earnings results after the market closed yesterday, posting sales and earnings that beat Wall Street's expectations for the period. The business recorded non-GAAP (adjusted) earnings per share (EPS) of $3.13 on sales of $2.63 billion. For comparison, the average analyst estimate had called for the business to post adjusted EPS of $2.84 on revenue of $2.61 billion.
ServiceNow's subscription revenues continued to expand, rising 23% on a currency-adjusted basis and reaching $2.54 billion. The company closed out the period with 88 deals worth over $1 million in annual contract value in Q2, up 26% year over year.
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Why ServiceNow Stock Is Surging Today