Jon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter @jswartz.
ServiceNow Inc.’s stock was flat in extended trading Wednesday after the company reported a quarterly bounce in revenue on strong subscription sales.
The software company NOW, -4.37% is riding the momentum of a 27% jump in quarterly subscription sales, to $2.2 billion, and an aggressive push into AI. In May, ServiceNow announced a generative-AI partnership with Nvidia Corp. NVDA, -4.31% to develop customized large language models for data using Nvidia software, services and infrastructure.
Revenue soared 25% to $2.7 billion, compared with $2.2 billion a year ago. ServiceNow expects annual subscription sales of between $8.635 billion and $8.64 billion. ServiceNow boasted 83 new transactions worth more than $1 million in net new annual contract value in Q2, up 20% year-over-year.
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