ServiceNow CEO Says AI Fear Is Missing Real Story: Customers Are Spending More

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The enterprise software company said customers are moving from AI experiments into broader deployments, according to the ServiceNow earnings call transcript. This content is powered by Benzinga APIs. ...

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For comprehensive financial data and transcripts, visit https://www.benzinga.com/apis/.\nBill McDermott, ServiceNow's chairman and CEO, rejected concerns that AI could weaken the business. “There has never been a tailwind for ServiceNow like AI,” McDermott said on the call.\nHe said ServiceNow sits inside a more than $600 billion total addressable market. He also said the company operates with $28 billion in remaining performance obligations.\nSubscription revenue rose 19% in constant currency during the first quarter. Current remaining performance obligations grew 21% in constant currency. Operating margin reached 32%, while free cash flow margin came in at 44%.\nMcDermott said Now Assist continues to exceed internal expectations. He said customers spending more than $1 million grew more than 130% year over year.\nServiceNow executives highlighted AI-driven productivity rather than direct layoffs. McDermott said internal agents resolve 90% of employee IT requests. He said those AI specialists resolve assigned cases 99% faster than human agents.\nMcDermott also said ServiceNow captured $500 million in productivity from its own AI use.\nHe said the company can enter a new year with the same headcount.\nMcDermott said enterprise customers remain excited about AI, though many feel confused. He said buyers want clarity on what AI models can and cannot do.\nCompany’s CFO Gina Mastantuono said AI spending comes from several areas. She cited lower labor budgets, technology reallocations and platform consolidation.\nMcDermott said ServiceNow now sees AI commitments reaching $1.5 billion this year. The company had previously targeted $1 billion.\nServiceNow expects second-quarter subscription revenue of $3.815 billion to $3.82 billion, representing approximately 21% to 21.5% growth. The company sees full-year 2026 subscription revenue in the range of $15.74 billion to $15.78 billion.\n“In Q1 2026, subscription revenue growth saw an approximately 75 basis point headwind from delayed closings of several large on-premise deals in the Middle East, due to the ongoing conflict in the region. This outlook reflects a prudent assessment of those geopolitical headwinds on deal timing for the remainder of FY 2026,” the company said.\nIn connection with earnings, ServiceNow announced a deepened strategic partnership with Google Cloud, unveiling new AI solutions and agents that bring autonomous operations to large global enterprises.\nPhoto by JHVEPhoto via Shutterstock\nThis content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2630804171","isCrawlerRequest":true}