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ServiceNow Q1 loss widens 35.5% YOY

ServiceNow Inc. said its first-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 0 cents per share.

The per-share loss grew 27.0% year over year from 19 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $35.7 million, compared with a loss of $26.3 million in the prior-year period.

The normalized profit margin climbed to negative 16.8% from negative 18.9% in the year-earlier period.

Total revenue grew 52.4% year over year to $212.0 million from $139.1 million, and total operating expenses grew 51.9% on an annual basis to $266.2 million from $175.3 million.

Reported net income came to a loss of $57.6 million, or a loss of 38 cents per share, compared with a loss of $42.6 million, or a loss of 30 cents per share, in the year-earlier period.