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:

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.


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