ServiceNow Q1 2021 Earnings Report
Key Takeaways
ServiceNow reported a strong start to 2021, with significant growth in subscription revenues and remaining performance obligations. The company's focus on digital transformation and continuous innovation drove the results, with subscription revenues increasing by 30% year-over-year and current remaining performance obligations growing by 33%.
Subscription revenues reached $1,293 million, marking a 30% year-over-year increase.
Current remaining performance obligations totaled $4.4 billion, a 33% increase year-over-year.
The company's customer base with over $1 million in annual contract value grew to 1,146, representing a 23% year-over-year increase.
ServiceNow launched the Now Platform Quebec release and acquired Intellibot to enhance workflow automation capabilities.
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ServiceNow Revenue by Segment
Forward Guidance
ServiceNow will provide forward-looking guidance in connection with this quarterly announcement on its earnings conference call and webcast.