ServiceNow first-quarter revenue beats estimates

Reuters News
Posted: Apr 23, 2014 4:49 PM

(Reuters) - ServiceNow Inc <NOW.N>, which makes software to automate and manage IT services, reported better-than-expected first-quarter revenue, helped by the addition of new customers.

The company's net loss widened to $43.3 million, or 30 cents per share, in the quarter ended March 31, from $13.4 million, or 10 cents per share, a year earlier.

Excluding items, the company reported a loss of 8 cents per share, in line with the analysts' average estimate.

Revenue rose 62 percent to $139.1 million, beating Wall Street estimates of $134.6 million.

Believe Him
Katie Pavlich

(This story corrects second paragraph to show the company's net loss widened, not narrowed)

(Reporting by Soham Chatterjee; Editing by Simon Jennings)