ServiceNow stock falls as refreshed subscription outlook trails estimates
) reported its first-quarter results today with adjusted earnings per share coming in at $3.41 from $2.37 year over year and surpassing the expected $3.16.
Subscription revenue met the estimate at $2.52 billion. For the second quarter, ServiceNow anticipates subscription revenue between $2.525 billion and $2.53 billion, which falls short of the expected $2.54 billion.ServiceNow adjusted its full-year subscription revenue guidance to a narrow range of $10.56 billion to $10.58 billion, slightly below the Bloomberg consensus estimate of $10.59 billion.
Moreover, the company reported a substantial increase in free cash flow to $1.23 billion, well above the estimate of $961.1 million.
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