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ServiceNow Q3 loss narrows YOY

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ServiceNow Q3 loss narrows YOY

ServiceNow Inc. said its normalized net income for the third quarter came to a loss of 16 cents per share, compared with the S&P Capital IQ consensus estimate of 8 cents per share.

The per-share loss narrowed 8.2% year over year from 17 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $24.9 million, compared with a loss of $25.3 million in the prior-year period.

The normalized profit margin climbed to negative 9.5% from negative 14.1% in the year-earlier period.

Total revenue rose 46.1% on an annual basis to $261.1 million from $178.7 million, and total operating expenses climbed 35.6% on an annual basis to $289.2 million from $213.2 million.

Reported net income totaled a loss of $40.8 million, or a loss of 26 cents per share, compared with a loss of $41.0 million, or a loss of 28 cents per share, in the prior-year period.