ServiceNow, Inc. Q1 Profit Increases, beats estimates

(RTTNews) - ServiceNow, Inc. (NOW) announced earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $347 million, or $1.67 per share. This compares with $150 million, or $0.73 per share, in last year's first quarter.

Excluding items, ServiceNow, Inc. reported adjusted earnings of $707 million or $3.41 per share for the period.

Analysts on average had expected the company to earn $3.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 24.4% to $2.60 billion from $2.09 billion last year.

ServiceNow, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $347 Mln. vs. $150 Mln. last year. -EPS (Q1): $1.67 vs. $0.73 last year. -Revenue (Q1): $2.60 Bln vs. $2.09 Bln last year.