There are few better examples of a gap between a company's performance and its share price right now than ServiceNow Inc. (NYSE: NOW). The enterprise software giant has spent a year selling off on fears that artificial intelligence will eventually make its business obsolete, and yet the numbers it just delivered tell a completely different story.
Last week, the company reported second-quarter results that comfortably beat expectations, with revenue growing at a rapid clip and management confident enough to raise its full-year outlook. Despite that, the stock barely moved and is trading just above its pre-earnings level, while still deep in the red for the year, weighed down by a narrative that its own results keep contradicting.
