FX.co ★ ServiceNow, Inc. Q1 Profit Increases, beats estimates

ServiceNow, Inc. (NOW) has reported a significant increase in earnings for its first quarter, exceeding estimates from Wall Street. The earnings for the quarter came to $347 million, amounting to $1.67 per share, in contrast to $150 million, or $0.73 per share from the first quarter of the previous year.

When considering external items, the firm reported adjusted earnings of $707 million equating to $3.41 per share for the duration of the quarter. In comparison, average analyst forecasts suggested the company would earn $3.14 per share, according to data compiled by Thomson Reuters. These analyst estimates usually do not encompass exceptional items.

ServiceNow's quarterly revenue displayed a rise of 24.4%, reaching $2.60 billion up from $2.09 billion during last year's equivalent quarter.

To provide a brief overview of ServiceNow's earings, based on GAAP:

- First-quarter earnings were at $347 million, compared to $150 million last year.

- Earnings per share in the first quarter were $1.67, compared to $0.73 last year.

- First-quarter revenue was $2.60 billion, compared to $2.09 billion the previous year.