What's behind the move: The Santa Clara, Calif.-based software company reported quarterly subscription revenue and bookings that topped analyst expectations, reinforcing investor optimism that its artificial intelligence offerings are helping drive growth. Management highlighted that demand for the company's AI products continues to outperform expectations, highlighting ServiceNow's broad customer demand, solid execution, and operating leverage. ServiceNow, which offers workflow management tools to enterprise customers, has seen its stock plummet 37% year to date. Shares of Adobe (ADBE) and Workday (WDAY) dropped, while Snowflake (SNOW) stock rose. Click here for the latest technology news that will impact the stock marketRead the latest financial and business news from Yahoo Finance