ServiceNow (NOW - Free Report) reported $2.6 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 24.2%. EPS of $3.41 for the same period compares to $2.37 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.59 billion, representing a surprise of +0.62%. The company delivered an EPS surprise of +8.25%, with the consensus EPS estimate being $3.15.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ServiceNow performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Current Remaining Performance Obligations(cRPO) - GAAP: $8.45 billion compared to the $8.41 billion average estimate based on four analysts.
- Remaining Performance Obligations (RPO) - GAAP: $17.7 billion compared to the $17.4 billion average estimate based on three analysts.
- Revenues- Professional services and other: $80 million compared to the $75.40 million average estimate based on nine analysts. The reported number represents a change of +11.1% year over year.
- Revenues- Subscription: $2.52 billion versus the nine-analyst average estimate of $2.51 billion. The reported number represents a year-over-year change of +24.7%.
- Gross Profit (Non-GAAP)- Subscription: $2.16 billion versus $2.12 billion estimated by eight analysts on average.
- Gross Profit (Non-GAAP)- Professional services and other: $13 million versus the eight-analyst average estimate of $6.26 million.
View all Key Company Metrics for ServiceNow here>>>Shares of ServiceNow have returned -4.8% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
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ServiceNow (NOW - Free Report) reported $2.6 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 24.2%. EPS of $3.41 for the same period compares to $2.37 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.59 billion, representing a surprise of +0.62%. The company delivered an EPS surprise of +8.25%, with the consensus EPS estimate being $3.15.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ServiceNow performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Current Remaining Performance Obligations(cRPO) - GAAP: $8.45 billion compared to the $8.41 billion average estimate based on four analysts.
- Remaining Performance Obligations (RPO) - GAAP: $17.7 billion compared to the $17.4 billion average estimate based on three analysts.
- Revenues- Professional services and other: $80 million compared to the $75.40 million average estimate based on nine analysts. The reported number represents a change of +11.1% year over year.
- Revenues- Subscription: $2.52 billion versus the nine-analyst average estimate of $2.51 billion. The reported number represents a year-over-year change of +24.7%.
- Gross Profit (Non-GAAP)- Subscription: $2.16 billion versus $2.12 billion estimated by eight analysts on average.
- Gross Profit (Non-GAAP)- Professional services and other: $13 million versus the eight-analyst average estimate of $6.26 million.
View all Key Company Metrics for ServiceNow here>>>Shares of ServiceNow have returned -4.8% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
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