SANTA CLARA, Calif. (AP) _ ServiceNow Inc. (NOW) on Wednesday reported second-quarter net income of $40.8 million, after reporting a loss in the same period a year earlier.
The Santa Clara, California-based company said it had profit of 20 cents per share. Earnings, adjusted for stock option expense and amortization costs, were $1.23 per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.
The maker of software that automates companies' technology operations posted revenue of $1.07 billion in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $1.05 billion.
ServiceNow shares have risen 58% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $445.71, an increase of 56% in the last 12 months.