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ServiceNow Q2 loss widens 21.6% YOY

ServiceNow Inc. said its second-quarter normalized net income amounted to a loss of 24 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share loss widened 13.7% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $37.8 million, compared with a loss of $31.1 million in the prior-year period.

The normalized profit margin climbed to negative 15.3% from negative 18.6% in the year-earlier period.

Total revenue rose 47.9% year over year to $246.7 million from $166.8 million, and total operating expenses climbed 42.0% on an annual basis to $300.0 million from $211.2 million.

Reported net income totaled a loss of $61.8 million, or a loss of 40 cents per share, compared with a loss of $50.6 million, or a loss of 35 cents per share, in the prior-year period.