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Technology Stocks : ServiceNow, Inc.
NOW 334.27+1.4%4:03 PM EST

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From: JakeStraw10/22/2014 7:52:15 PM
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ServiceNow Reports Financial Results for the Third Quarter 2014

Third Quarter Revenues Grew 61% Year-over-Year to $178.7 Million

“We had a solid third quarter as we continued to help our customers extend service management across the enterprise,” said Frank Slootman, president and chief executive officer, ServiceNow. “The opportunities for us to expand within IT, as well as deliver value throughout the business, significantly broaden our addressable market and growth potential.”

“Our strong third quarter performance included a record 11 deals greater than $1 million in annual contract value,” added Michael Scarpelli, chief financial officer, ServiceNow. “We also achieved our first quarter of billings greater than $200 million.”

For the full year 2014, we expect revenues to be in the range of $677 to $679 million, representing year-over-year growth between 59% and 60%. Our total annual revenues estimate consists of subscription revenues between $562 and $563 million and professional services and other revenues between $114 and $115 million.
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