Servicenow Inc Stock Price, News & Analysis

ServiceNow reported strong Q1 2023 results, exceeding guidance in all topline growth and profitability metrics. Subscription revenues reached $2,024 million, a 24% year-over-year growth, while total revenues were $2,096 million, representing a 22% increase. The company's current remaining performance obligations (cRPO) stood at $7.01 billion, growing 23% year-over-year. With 66 transactions exceeding $1 million in net new annual contract value, that’s a 27% rise from the previous year. ServiceNow raised its full-year 2023 subscription revenue guidance to between $8,470 million and $8,520 million. Key business expansions included the launch of new platform features and partnerships with organizations like UNHCR and AT&T.

ServiceNow (NYSE: NOW) announced the appointment of Deborah Black, former Vice President of Engineering at Netflix, to its board of directors. This addition aims to leverage her extensive experience in technology and business to foster innovation as the company pursues its vision of becoming a leading enterprise software provider. Black's past roles include Vice President at Amazon and Corporate Vice President at Microsoft, where she contributed to significant software projects. ServiceNow now has a total of 11 board members, and her expertise is expected to enhance the company's momentum in addressing digital transformation across enterprise sectors.

ServiceNow (NYSE: NOW) has announced significant leadership changes aimed at fostering growth in the EMEA region. Ulrik Nehammer is promoted to the role of chairman, international, where he will leverage his extensive experience for strategic planning and customer relations. Cathy Mauzaize rises to president, EMEA, focusing on driving growth strategies. Meanwhile, Fabio Spoletini joins as vice president, EMEA South, to lead business development across Southern Europe, the Middle East, and Africa. The company's commitment to innovation and investment in EMEA underscores its ambition to be a leading enterprise software provider. With these appointments, ServiceNow aims to enhance its international leadership and meet the unique needs of its customers in the region.

ServiceNow (NYSE: NOW) announced that on April 17, 2023, its Compensation Committee granted equity awards as part of the 2022 New-Hire Equity Incentive Plan. A total of 236 newly hired employees received restricted stock units representing 53,458 shares of common stock. The awards feature a four-year vesting schedule, with vesting on a pro rata basis occurring either quarterly, biannually, or annually, based on the number of restricted stock units granted to each employee.

ServiceNow is focused on enhancing organizational workflows through its cloud-based solutions, aiming for improved connectivity, innovation, and agility for employees and customers alike.

The UNHCR has partnered with ServiceNow and other organizations to establish a Regional Contact Centre (RCC) aimed at supporting Ukrainian refugees amid the ongoing conflict. This RCC provides cost-free access to essential services including emergency information, psychosocial counseling, and referrals to specialists for vulnerable individuals. Since the onset of the war, over 8 million Ukrainian refugees have been recorded in Europe. The RCC aims to facilitate communication and provide vital information on education, healthcare, and legal support, initially servicing refugees in Hungary and Poland. The initiative leverages the expertise of multiple organizations and serves as a prototype for future deployment in other humanitarian crises.