ServiceNow Inc Q3 2023 Earnings Call Summary - Thomson StreetEvents

ServiceNow Inc Q3 2023 Earnings Call Summary

ServiceNow Inc Q3 2023 Earnings Call Summary - Thomson StreetEvents
ServiceNow Inc Q3 2023 Earnings Call Summary
Published Oct 25, 2023
16 pages (9003 words) — Published Oct 25, 2023
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Abstract:

Edited Brief of NOW.N earnings conference call or presentation 25-Oct-23 9:00pm GMT

  
Brief Excerpt:

...A. ServiceNow has delivered subscription revenue that grew by 24.5% in constant currency, over 1 point above our guidance. B. cRPO grew a strong 24%. C. That's 2.5 points above our guidance. D. Operating margin was 30%, more than 2.5 points above our guidance. E. We had 83 deals greater than $1 million in net new ACV, up from 69 a year ago, a 20% increase year-over-year. F. Large new logo growth accelerated for the third consecutive quarter. G. All of our workflow businesses were in 14 or more of the top 20 deals: ITSM, ITOM, ITAM, security and risk, customer, employee and creator. H. Within our technology workflows, security and risk had a very strong quarter with 10 deals over $1 million. I. Employee workflows had a stellar quarter, with 7 deals over $1 million and 1 deal over $10 million. J. From an industry perspective, this was the best U.S. federal quarter in ServiceNow's history and in ACV, was up over 75% year-over-year. K. We had 19 federal deals over $1 million, including 3 deals...

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
ServiceNow Inc
Ticker
NOW.N
Time
9:00pm GMT
Format:
PDF Adobe Acrobat
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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 : Okay. Great. Maybe I'll direct this one to Gina. Gina, I know from the past when you've had strong fed quarters that by virtue of those deals, they tend to have, I think, correct me if I'm wrong, a little bit more upfront rev rec. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 25, 2023 / 9:00PM, NOW.N - Q3 2023 ServiceNow Inc Earnings Call So I'm just curious. You laid out the impact on cRPO, but how does that strong fed quarter that you saw in September impact the reported subscription revenue and margins that you put up? And if you could, in any way, maybe size that lift, given that I think there's more upfront rev rec. Much appreciated.

Question: Matthew George Hedberg - RBC Capital Markets, Research Division - Analyst : CJ, a question for you. A lot has changed in the observability market with the Splunk proposed acquisition. I'm curious, could you give us a sense for your positioning in the cloud observability market? With Lightstep and other advancements there, how well positioned do you feel to gain additional share there?

Table Of Contents

ServiceNow New methods for faster implementation Summary – 2024-04-04 – US$ 106.00 – Edited Brief of NOW.N conference call or presentation 4-Apr-24 3:00pm GMT

ServiceNow New methods for faster implementation Transcript – 2024-04-04 – US$ 106.00 – Edited Transcript of NOW.N conference call or presentation 4-Apr-24 3:00pm GMT

ServiceNow Inc Boost employee growth through unified talent development experiences Transcript – 2024-03-20 – US$ 54.00 – Edited Transcript of NOW.N conference call or presentation 20-Mar-24 3:00pm GMT

ServiceNow Inc Corporate Call Transcript – 2024-02-01 – US$ 54.00 – Edited Transcript of NOW.N conference call or presentation 1-Feb-24 4:00pm GMT

ServiceNow Inc Q3 2023 Earnings Call Transcript – 2023-10-25 – US$ 54.00 – Edited Transcript of NOW.N earnings conference call or presentation 25-Oct-23 9:00pm GMT

ServiceNow Inc Driving GBS outcomes at scale Webinar Summary – 2023-10-19 – US$ 54.00 – Edited Brief of NOW.N conference call or presentation 19-Oct-23 3:00pm GMT

ServiceNow Inc Driving GBS outcomes at scale Webinar Transcript – 2023-10-19 – US$ 54.00 – Edited Transcript of NOW.N conference call or presentation 19-Oct-23 3:00pm GMT

ServiceNow Inc at Goldman Sachs Communications & Technology Conference Transcript – 2023-09-06 – US$ 54.00 – Edited Transcript of NOW.N presentation 6-Sep-23 8:05pm GMT

ServiceNow Inc at Deutsche Bank Technology Conference Transcript – 2023-08-31 – US$ 54.00 – Edited Transcript of NOW.N presentation 31-Aug-23 4:30pm GMT

ServiceNow Inc at KeyBanc Technology Leadership Forum Summary – 2023-08-08 – US$ 54.00 – Edited Brief of NOW.N presentation 8-Aug-23 6:00pm GMT

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Cite this Report

  
MLA:
Thomson StreetEvents. "ServiceNow Inc Q3 2023 Earnings Call Summary" Oct 25, 2023. Alacra Store. May 18, 2024. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2023-ServiceNow-Inc-Earnings-Call-B15763500>
  
APA:
Thomson StreetEvents. (2023). ServiceNow Inc Q3 2023 Earnings Call Summary Oct 25, 2023. New York, NY: Alacra Store. Retrieved May 18, 2024 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2023-ServiceNow-Inc-Earnings-Call-B15763500>
  
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