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Viky007
2023-10-26

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ServiceNow (NOW) Q3 2023 Earnings Call Transcript Summary

ServiceNow (NOW) Q3 2023 Earnings Call Summary Here are the specific viewpoints from the earnings call: Bullish Points: 1. ServiceNow delivered subscription revenue that grew by 24.5% in constant currency, over one point above guidance. 2. cRPO grew a strong 24%, 2.5 points above guidance. 3. Operating margin was 30%, more than 2.5 points above guidance. 4. 83 deals greater than 1 million in net new ACV, up from 69 a year ago, a 20% increase year over year. 5. Large new logo growth accelerated for the third consecutive quarter. 6. Best U.S. federal quarter in ServiceNow history, with NNACV up over 75% year over year. 7. Increasing full-year guidance on the top line and the bottom line. 8. ServiceNow is the fastest-growing company in the enterprise software market at relative scale. 9. Over 300 customers in the pipeline for generative AI. 10. Strong performance in transportation and logistics, and education industries. Bearish Points: 1. One-point headwind to Q4 cRPO growth due to higher mix of 12-month contracts. For more information about ServiceNow(NOW)'s earnings call, you can read the relevant news: ServiceNow (NOW) Q3 2023 Earnings Call Transcript

ServiceNow (NOW) Q3 2023 Earnings Call Transcript Summary

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ServiceNow delivered subscription revenue that grew by 24.5% in constant currency, over one point above guidance.</p> \n<p>2. cRPO grew a strong 24%, 2.5 points above guidance.</p> \n<p>3. Operating margin was 30%, more than 2.5 points above guidance.</p> \n<p>4. 83 deals greater than 1 million in net new ACV, up from 69 a year ago, a 20% increase year over year.</p> \n<p>5. Large new logo growth accelerated for the third consecutive quarter.</p> \n<p>6. Best U.S. federal quarter in ServiceNow history, with NNACV up over 75% year over year.</p> \n<p>7. Increasing full-year guidance on the top line and the bottom line.</p> \n<p>8. ServiceNow is the fastest-growing company in the enterprise software market at relative scale.</p> \n<p>9. Over 300 customers in the pipeline for generative AI.</p> \n<p>10. Strong performance in transportation and logistics, and education industries.</p> \n<p></p> \n<p>Bearish Points:</p> \n<p>1. One-point headwind to Q4 cRPO growth due to higher mix of 12-month contracts.</p> \n<p></p> \n<p>For more information about ServiceNow(NOW)'s earnings call, you can read the relevant news: <a href=\"https://www.fool.com/earnings/call-transcripts/2023/10/26/servicenow-now-q3-2023-earnings-call-transcript/\">ServiceNow (NOW) Q3 2023 Earnings Call Transcript</a></p></body></html>","htmlText":"<html><head></head><body><p>ServiceNow (NOW) Q3 2023 Earnings Call Summary</p> \n<p></p> \n<p>Here are the specific viewpoints from the earnings call:</p> \n<p></p> \n<p>Bullish Points:</p> \n<p>1. ServiceNow delivered subscription revenue that grew by 24.5% in constant currency, over one point above guidance.</p> \n<p>2. cRPO grew a strong 24%, 2.5 points above guidance.</p> \n<p>3. Operating margin was 30%, more than 2.5 points above guidance.</p> \n<p>4. 83 deals greater than 1 million in net new ACV, up from 69 a year ago, a 20% increase year over year.</p> \n<p>5. 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