ServiceNow, Inc. (NOW) is experiencing substantial growth due to the rising adoption of cloud computing solutions and digital transformation across various industries. The company surpassed its first quarter 2023 revenue and profitability guidance. It also raised its subscription revenue guidance for the year.
For the quarter ending March 31, 2023, subscription revenues reached $2.02 billion, a 24% increase from the same period last year. Additionally, NOW reported over 7,700 customers in the previous year, featuring 85% of the Fortune 500 companies.
