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ServiceNow tops Q2 forecasts and lifts full-year outlook as AI bookings exceed $1B

AI Market Summary
ServiceNow's fiscal Q2 beat on EPS and revenue, alongside stronger subscription revenue and an upgraded full-year subscription outlook, signals resilient enterprise software demand. The first-time crossing of $1B in AI annual contract value and rapid growth in agentic deployments reinforce accelerating AI monetization. With remaining performance obligations up ~21% and large-deal count rising, the print improves near-term confidence in growth durability after a weak year-to-date stock performance.
Impact level
● Medium
Affected assets
NCSKNOW2USD/USDT-0.93%
AI Insight · NCSKNOW2USD/USDTAI Insight
▲ Bullish
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ServiceNow reported fiscal 2024 Q2 adjusted earnings of 90 cents per share and revenue of $3.99 billion, both above market expectations. The company said its AI portfolio surpassed $1 billion in annual contract value for the first time. ServiceNow raised its full-year subscription revenue forecast to $15.76 billion–$15.78 billion, implying growth of about 22.5%.
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