Why ServiceNow, Inc. Shares Soaredhttp://www.fool.com/investing/general/2014/01/30/why-servicenow-inc-shares-soared.aspx Steve Symington
January 30, 2014
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of IT infrastructure specialist ServiceNow, (NYSE: NOW) jumped 14% Thursday, after at least four analysts chimed in with positive notes on the stock following its latest quarterly earnings announcement.
So what: Fourth-quarter revenue rose 67% year-over-year to $125.2 million, which translated to an adjusted net loss of $3 million, or $0.02 per share. Analysts, on average, were expecting the company to report a quarterly net loss of just $0.01 per share, but on lower revenue of $120.25 million.
In the current quarter, ServiceNow expects revenue in the range of $133 million and $135 million, also well above expectations for $131 million. Better yet, ServiceNow projects full-year 2014 sales of $640 million to $645 million, compared to estimates for just $611 million.