Solid first quarter results for ServiceNow

ServiceNow has released financial results for Q1, with subscription revenues of $995m representing 34 percent year on year growth. During the quarter, ServiceNow closed 37 transactions with more than $1m in net new annual contract value (ACV), representing 48 percent year on year growth. Deals included the company’s second largest new customer transaction ever, as well as the Asia Pacific region’s largest ever customer service management deal. The company now has 933 total customers with more than $1m in ACV, representing 30 percent year on year growth in customers.

Bill McDermott, ServiceNow CEO, said: “Our Q1 results are a direct reflection of ServiceNow’s unique position as the workflow platform to create great employee and customer experiences even in these challenging conditions. With our outstanding team and culture, I am extremely confident in the long-term growth trajectory of this company.”

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