ServiceNow reports 24% revenue growth and launches $40 million autonomous banking investment
ServiceNow posted second‑quarter revenue that rose 24% year over year to $3.99 billion, with subscription revenue up 25% to $3.88 billion and adjusted earnings per share increasing 11% to $0.90, beating analyst expectations. The company also lifted its full‑year subscription‑revenue forecast to $15.76‑$15.78 billion, indicating 22.5% growth.
Although the stock has fallen about 40% since the start of the year, shares jumped 7% in Monday trading, reaching $105.71. In a related move, ServiceNow invested $40 million in fintech startup BUSINESSNEXT, valuing the firm at $700 million, to build a unified autonomous operating fabric for financial‑services customers across the Asia‑Pacific region.
Entities: BUSINESSNEXT · ServiceNow Inc. · ServiceNow, Inc. · Waverly Advisors LLC
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 2 SOURCES] ServiceNow adjusted EPS rose 11% to $0.90. (ServiceNow Q2 earnings)
- [○ 1 SOURCE] ServiceNow invested $40 million in BUSINESSNEXT, valuing the fintech startup at $700 million. (ServiceNow investment announcement)
- [● 2 SOURCES] ServiceNow subscription revenue grew 25% year‑over‑year to $3.88 billion. (ServiceNow Q2 earnings)
- [● 2 SOURCES] ServiceNow raised its full‑year subscription‑revenue guidance to $15.76‑$15.78 billion (22.5% growth). (ServiceNow Q2 earnings)
- [○ 1 SOURCE] The ServiceNow‑BUSINESSNEXT partnership aims to create an autonomous operating fabric for financial services in the Asia‑Pacific region. (ServiceNow investment announcement)
- [○ 1 SOURCE] ServiceNow shares rose 7% in Monday trading, reaching $105.71. (Market trading data)
- [○ 1 SOURCE] ServiceNow stock is down about 40% for the year. (ServiceNow stock analysis)
- [● 2 SOURCES] ServiceNow Q2 revenue increased 24% year‑over‑year to $3.99 billion. (ServiceNow Q2 earnings)