ServiceNow turns in strong Q3 numbers, but falls foul of a fractious Wall Street
A rough ride for ServiceNow on Wall Street yesterday despite turning in a 20% increase in Q3 revenues.
Total Q3 revenues of $4,106 million in Q3 2026, 20.5% year-on-year growth, while net income of $277 million was down from $502 million. Subscription revenues hit $3,988 million, representing 21% year-over-year growth.
But Wall Street short termists sent the share price down sharply following the results announcement.
Other stats of note from the earnings announcement:
- 680 customers generate more than $5 million in ACV, with 31 additional customers surpassing $20 million in ACV over the past year.
- The number of AI deals over $1 million grew 4.5x year-on-year.
- Deals involving five or more AI products increasing over 8.5x year-on-year.
- Technology workflows had 54 deals over $1 million, including 6 over $5 million.
- ITSM was in 11 of the top 20 deals.
- ITOM was in nine of the top 20 deals, with 14...
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