ServiceNow Earnings: NOW Stock Soars on Strong Q4 Results
ServiceNow earnings (NYSE:NOW) were released early in the day on Thursday and the company impressed with its latest quarterly figures, helping to send NOW stock soaring more than 10% during its regular trading period as its fiscal year ended with a bang.
The Santa Clara, Calif.-based cloud computer company said that it had an impressive end to its fiscal 2018 as it reported historic fourth-quarter results. The company said that it brought in net income of $7 million for the period, which amounted to roughly 4 cents per share.
The figure was a considerable improvement over the loss of $17.3 million that ServiceNow had reported during its fourth quarter of its fiscal 2018, coming in at roughly 10 cents per share. On an adjusted basis, the cloud computing services provider said that it brought in a profit of 77 cents per share.
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Analysts were calling for the company to bring in adjusted earnings of roughly 63 cents per share, according to data compiled from a survey conducted by FactSet. ServiceNow added that its revenue for its fourth quarter reached $715.4 million, increasing from the $549.1 million from its year-ago quarter.
Wall Street was calling for the company to bring in revenue of $714 million.
NOW stock was skyrocketing early in the day on Thursday as the company had a quarter to remember, with shares surging upwards more than 13.4%. ServiceNow hopes that its strong quarterly showing will help propel it to a strong fiscal 2019.
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