Strong Performance and Adoption of Gen AI Highlight ServiceNow's Q1 2024 Earnings Call
ServiceNow Q1 2024 Earnings Call Highlights:
- Subscription revenue grew by 24.5% in constant currency.
- CRPO growth exceeded expectations at 21%.
- Pro Plus adoption accelerating with faster implementation times.
- Strong interest in gen AI use cases, driving productivity gains.
- Prudent outlook maintained for free cash flow margins and top-line growth.
ServiceNow reports outstanding results in first quarter 2024, exceeding high-end guidance with subscription revenue growth of 24.5% in constant currency. CRPO growth exceeded expectations at 21%. Pro Plus adoption is accelerating, driving productivity gains across key businesses. Customers are turning on Pro Plus and experiencing faster implementation times. Customer demand continues to show strong interest in gen AI use cases, with high productivity improvements. Prudent outlook maintained for free cash flow margins and top-line growth throughout the year.
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