ServiceNow reported strong Q2 2024 results with subscription revenues of $2.54 billion, up 23% YoY, and total revenues of $2.63 billion, up 22% YoY. The company exceeded guidance across all topline growth metrics and achieved 88 transactions over $1 million in net new ACV, up 26% YoY. Current remaining performance obligations reached $8.78 billion, representing 22% YoY growth.The company announced the immediate resignation of President and COO CJ Desai following an internal investigation into policy violations regarding the hiring of a former U.S. Army Chief Information Officer. The investigation, which involved outside legal counsel, led to both Desai's departure and the exit of the hired individual. ServiceNow veteran Chris Bedi has been appointed as interim Chief Product Officer.Based on strong H1 performance, ServiceNow raised its 2024 subscription revenue guidance and maintained its confidence in achieving $15+ billion in 2026. The company's GenAI initiatives showed significant momentum, with Now Assist deals doubling quarter-over-quarter, including 11 deals exceeding $1 million in Q2.

ServiceNow reported strong Q2 2024 results with subscription revenues of $2.54 billion, up 23% YoY, and total revenues of $2.63 billion, up 22% YoY. The company exceeded guidance across all topline growth metrics and achieved 88 transactions over $1 million in net new ACV, up 26% YoY. Current remaining performance obligations reached $8.78 billion, representing 22% YoY growth.The company announced the immediate resignation of President and COO CJ Desai following an internal investigation into policy violations regarding the hiring of a former U.S. Army Chief Information Officer. The investigation, which involved outside legal counsel, led to both Desai's departure and the exit of the hired individual. ServiceNow veteran Chris Bedi has been appointed as interim Chief Product Officer.Based on strong H1 performance, ServiceNow raised its 2024 subscription revenue guidance and maintained its confidence in achieving $15+ billion in 2026. The company's GenAI initiatives showed significant momentum, with Now Assist deals doubling quarter-over-quarter, including 11 deals exceeding $1 million in Q2.