The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Karl Emil Keirstead - UBS Investment Bank, Research Division - Analyst
: If I could just ask you about the seasonality in subscription billings this year, maybe sort of a 2 parter. In terms of 2Q, it looks like, your constant
currency billings guide of 20%, that's about a 5-point step down from what you did in Q1, yet the 2Q compare, I think, is reasonably easy given
that was a tough quarter for everybody in software in the year ago period. And then in terms of the full year billings guide, it looks like the constant
currency guide is about 23% at the midpoint. Just to clarify, was it about 22% before so you've in fact upped it by a percentage point or so? Just
to clarify.
Question: Kasthuri Gopalan Rangan - Goldman Sachs Group, Inc., Research Division - Analyst
: Congratulations on the superb quarter, Bill and team. Bill, I have a question for you. It's been a year now since we've been working and running
the business virtually. And so at one end you could argue that the deals are getting closed today or at least that -- got into the system about a year
back or so. Now as we remain virtual, how do you think about lead generation and driving the business for calendar '21 and beyond? And also
given that you've had tremendous success selling virtually and scaling the business virtually, does opening of the economy really drive any benefits
for ServiceNow incrementally speaking? And for you, Gina, I'll save the follow-up.
Question: Kasthuri Gopalan Rangan - Goldman Sachs Group, Inc., Research Division - Analyst
: It sounds like [now we go]. Gina, a question for you: It's -- so Bill's take on how the economy opening up will have some implications, ramifications.
How much of that have you [dug in the] guidance? Or are you keeping guidance relatively conservative not taking to account all the upside that
Bill -- as he talked about opening of economy, that -- if it does materialize?
Question: Kasthuri Gopalan Rangan - Goldman Sachs Group, Inc., Research Division - Analyst
: Brilliant.
Question: Kasthuri Gopalan Rangan - Goldman Sachs Group, Inc., Research Division - Analyst
: Absolutely.
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