Loading...
•
Jun 30, 2023
ServiceNow Q2 2023 Earnings Report
ServiceNow's Q2 2023 financial results were announced, exceeding guidance across topline growth and profitability metrics. The company is raising its 2023 subscription revenues and operating margin guidance.
Key Takeaways
ServiceNow reported strong Q2 2023 financial results, exceeding guidance for topline growth and profitability. Subscription revenues reached $2,075 million, representing 25% year-over-year growth. Total revenues amounted to $2,150 million, a 23% increase year-over-year. The company is raising its 2023 subscription revenues and operating margin guidance.
ServiceNow exceeded guidance across all Q2 2023 topline growth and profitability metrics.
Subscription revenues were $2,075 million in Q2 2023, representing 25% year-over-year growth.
Total revenues reached $2,150 million in Q2 2023, a 23% increase year-over-year.
Current remaining performance obligations were $7.20 billion as of Q2 2023, representing 25% year-over-year growth.
ServiceNow
ServiceNow
ServiceNow Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional services Revenue
CapyFin.com Forward Guidance
ServiceNow provided guidance for the third quarter and full year 2023, including subscription revenues and operating margin targets.
Positive Outlook
- Third quarter 2023 subscription revenues are expected to be $2,185 - $2,195 million, representing 25.5% - 26% year-over-year growth.
- Third quarter 2023 income from operations margin is expected to be 27%.
- Full-year 2023 subscription revenues are projected to be $8,580 - $8,600 million, representing 24.5% - 25% year-over-year growth.
- Full-year 2023 subscription gross profit margin is expected to be 84%.
- Full-year 2023 income from operations margin is expected to be 26.5%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income