ServiceNow reported first-quarter subscription revenues of $3.67 billion. This performance marks a 22% year-over-year increase and narrowly beat analyst estimates.
The company posted adjusted earnings per share of 97 cents. This result met Wall Street expectations.
Shares dropped more than 12% in after-hours trading. Management cited delayed deals stemming from the Middle East conflict as a primary headwind.
ServiceNow raised its full-year subscription revenue forecast. Some investors characterized the new guidance as lackluster due to future growth concerns.