ServiceNow: 4Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ ServiceNow Inc. (NOW) on Wednesday reported fourth-quarter net income of $7 million, after reporting a loss in the same period a year earlier.
The Santa Clara, California-based company said it had net income of 4 cents per share. Earnings, adjusted for one-time gains and costs, came to 77 cents per share.
The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The maker of software that automates companies’ technology operations posted revenue of $715.4 million in the period, missing Street forecasts. Thirteen analysts surveyed by Zacks expected $717.3 million.
For the year, the company reported that its loss narrowed to $26.7 million, or 15 cents per share. Revenue was reported as $2.61 billion.
ServiceNow shares have increased 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $194.09, a rise of 32 percent in the last 12 months.