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ServiceNow's net loss narrows in Q4'17

ServiceNow Inc. saw its net loss narrow to $27.8 million in the fourth quarter of 2017, from $32.6 million in the same period in 2016.

The cloud services company posed a diluted net loss per share of 16 cents in the fourth quarter, compared with 20 cents from a year ago.

Total revenues climbed 42% to $546.4 million for the period that ended Dec. 31, 2017, from $385.7 million in the year-ago quarter.

Subscription revenues surged 44% to $497.2 million from $344.6 million in the year-ago quarter.

ServiceNow noted more than $1 billion in total contract value in the fourth quarter and a record 41 deals over $1 million in net new annual contract value.

For the full year, net loss came in at $149.1 million, compared with $451.8 million for full year 2016.

Looking ahead, ServiceNow expects subscription revenues to range from $525 million to $530 million in the first quarter of 2018, or a year-over-year growth of 35% to 37%.