ServiceNow delivered robust financial results for Q2 2024, with total revenues reaching $2.63 billion, up 22% year-over-year. Subscription revenues, which accounted for 97% of total revenues, grew 23% to $2.54 billion. The company's digital workflow products continued to drive growth, generating $2.25 billion in subscription revenues.Profitability improved as gross profit increased to $2.08 billion, with gross margin expanding to 79%. ServiceNow maintained strong customer momentum, growing its base of customers with annual contract value exceeding $1 million to 1,988, up from 1,724 a year ago. The company's remaining performance obligations (RPO) rose 31% year-over-year to $18.6 billion.Looking ahead, ServiceNow expects continued growth in subscription revenues and improvements in professional services gross margins for the full year 2024. The company plans to increase investments in research and development while leveraging sales and marketing efficiencies. Despite macroeconomic uncertainties, ServiceNow remains confident in its ability to drive digital transformation for global enterprises.

ServiceNow delivered robust financial results for Q2 2024, with total revenues reaching $2.63 billion, up 22% year-over-year. Subscription revenues, which accounted for 97% of total revenues, grew 23% to $2.54 billion. The company's digital workflow products continued to drive growth, generating $2.25 billion in subscription revenues.Profitability improved as gross profit increased to $2.08 billion, with gross margin expanding to 79%. ServiceNow maintained strong customer momentum, growing its base of customers with annual contract value exceeding $1 million to 1,988, up from 1,724 a year ago. The company's remaining performance obligations (RPO) rose 31% year-over-year to $18.6 billion.Looking ahead, ServiceNow expects continued growth in subscription revenues and improvements in professional services gross margins for the full year 2024. The company plans to increase investments in research and development while leveraging sales and marketing efficiencies. Despite macroeconomic uncertainties, ServiceNow remains confident in its ability to drive digital transformation for global enterprises.