ServiceNow (NOW) Tops Q4 EPS by 13c, Revenues Beat; Offers FY19 Revenue Outlook Above Consensus
ServiceNow (NYSE: NOW) reported Q4 EPS of $0.77, $0.13 better than the analyst estimate of $0.64. Revenue for the quarter came in at $723.7 million versus the consensus estimate of $717.77 million.
“We finished 2018 with our strongest fourth quarter ever, continuing our momentum as the leading digital workflow company shaping the future of work,” said John Donahoe, ServiceNow president and chief executive officer. “Our role as a strategic partner to the world’s largest enterprises continues to accelerate. As we look to another strong year of growth in 2019, we remain committed to enabling companies’ digital transformation by making work, work better for people.”
“Total backlog1 including deferred revenue at the end of 2018 was $5.1 billion, representing 35% year-over-year growth,” said Michael Scarpelli, ServiceNow chief financial officer. “Strength in the fourth quarter was driven by expansions of existing customer relationships, which contributed to a record $1.5 billion in total contract value booked.”
GUIDANCE:
ServiceNow sees FY2019 revenue of $3.77-3.792 billion, versus the consensus of $3.37 billion.
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