ServiceNow Inc. Shares NOW,
It fell more than 3% in the extended session on Wednesday after the cloud software company reported second-quarter earnings above expectations and said its subscription sales increased 30%. ServiceNow said it earned $ 41 million, or 20 cents a share, in the quarter, ranging from a loss of 6 cents a share in the same period last year. Adjusted for one-off items, the company earned $ 1.23 a share. Revenue increased 28% to $ 1.07 billion, the company said. Analysts surveyed by FactSet expected adjusted earnings of $ 1.01 per share on sales of $ 1.05 billion for the quarter. The company said its subscription revenue increased 30% year-over-year. ServiceNow guided subscription revenue between $ 4.185 billion and $ 4.2 billion for the full year 2020. “Our best renewal rate remained at 97%, and customers continue to expand on the Now Platform, giving us the conviction to increase our growth and profitability guidance for the year. I am confident in our ability to deliver our second half. ” CFO Gina Mastantuono said in a statement.
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