Servicenow (NOW) Reports In-Line Q2 EPS; Raises Outlook

Servicenow (NYSE: NOW) reported Q2 EPS of ($0.07), in-line with the analyst estimate of ($0.07). Revenue for the quarter came in at $166.8 million versus the consensus estimate of $161.53 million.

Servicenow sees Q3 2014 revenue of $173-175 million, versus the consensus of $169.6 million.

Servicenow sees FY2014 revenue of $668-673 million, versus the consensus of $655.9 million.

We continued our momentum in the second quarter, generating greater than expected revenue and adding 169 new customers, bringing our total to 2,364,” said Frank Slootman, president and chief executive officer, ServiceNow. “Our renewal rate remains strong at 98 percent, with upsells representing 33 percent of the total annual contract value booked in the quarter.”

“Our average revenue per customer grew 21 percent in the quarter compared to last year,” added Michael Scarpelli, chief financial officer, ServiceNow. “We also raised our full-year 2014 total revenue guidance by $16 million this quarter, our largest guidance raise ever.”

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

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