(Updated - April 16, 2015 4:09 PM EDT)

Servicenow, Inc. (NYSE: NOW) reported Q1 EPS of $0.02, $0.02 better than the analyst estimate of $0.00. Revenue for the quarter came in at $212 million versus the consensus estimate of $210.86 million. Billings were $268 million, increasing 48% year-over-year and 59% in constant currence.

Servicenow, Inc. sees Q2 revenue of $237-242 million, versus the consensus of $241.96 million.

• "Our total second quarter revenue estimate consists of subscription revenues between $192 and $196 million and professional services and other revenues between $45 and $46 million.
• Billings between $260 and $265 million, representing year-over-year growth between 38% and 41%.
• Subscription gross margin of approximately 80%, professional services and other gross margin, excluding Knowledge15 revenue, of approximately 15%, and overall gross margin of approximately 70%.
• Operating loss of approximately $5 million, including net expense of $12 million related to Knowledge15.
• Free cash flow of approximately $40 million

For the full year 2015, we expect total revenues to be in the range of $970 million to $1 billion, representing year-over-year growth between 42% and 47%.

(Street sees FY15 revenue of $990.25 million.)

• Our total annual revenue estimate consists of subscription revenues between $820 and $840 million and professional services and other revenues between $150 and $160 million."

For earnings history and earnings-related data on Servicenow, Inc. (NOW) click here.