ServiceNow reported second-quarter total revenues of $3.99 billion. Total revenue increased 24% year-over-year, surpassing analyst expectations.
Subscription revenues reached $3.88 billion. This segment grew 24.5% compared to the previous year. Current remaining performance obligations rose to $13.2 billion. This metric increased 21% year-over-year.
AI-related annual contract value surpassed the $1 billion milestone ahead of schedule. Strong demand for artificial intelligence products drove the quarterly performance.
ServiceNow raised its full-year subscription revenue guidance. The company now expects subscription revenue between $15.76 billion and $15.78 billion.