ServiceNow (NYSE:NOW) reported strong Q1 results yesterday, beating expectations as demand trends remained durable, including growth in the financial services vertical, despite broader volatility.
Q1 EPS came in at $2.37, beating the Street estimate of $2.04. Revenue was $2.14 billion, better than the Street estimate of $2.08 billion.
According to the analysts at RBC Capital, the sales pipeline remains strong as they believe management remains prudent in the near term. That said, due to FX and ongoing macro pressures, the analysts believe long-term targets likely move lower at the upcoming investor day, which is something investors expected.
For the full year, the company expects subscription revenues to be in the range of $8.47-$8.52 billion.