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Why ServiceNow Stock Plunged on Thursday
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The Motley Fool
For the fourth quarter, ServiceNow delivered revenue of $3.57 billion, an increase of 21% year over year and 20% in constant currency.
For context, analysts' consensus estimates were calling for revenue of $3.53 billion and EPS of $0.88, so ServiceNow sailed past Wall Street's expectations.
Fresh on the heels of its $2.85 billion acquisition of AI agent specialist Moveworks, ServiceNow announced plans to acquire cybersecurity start-up Armis for $7.75 billion.
ServiceNow is guiding for full-year subscription revenue growth of 21%.
Despite its recent fall from grace, ServiceNow still trades for more than 33 times earnings.