ServiceNow Reports Strong Q3 Earnings Amid AI Expansion

Despite exceeding expectations, ServiceNow's conservative guidance tempers investor enthusiasm.

ServiceNow's Q3 2024 revenue rose 22% to $2.8 billion, surpassing Wall Street expectations by $60 million.
The company's adjusted earnings per share increased 27% to $3.72, beating estimates by 80 cents.
Generative AI products, particularly Now Assist, are driving growth, with customers reporting significant productivity gains.
Despite strong financials, ServiceNow's stock dipped due to conservative Q4 guidance, with subscription revenue forecasted at $2.88 billion.
Amit Zavery, formerly of Google Cloud, has been appointed as ServiceNow's new president, chief product officer, and COO.