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ServiceNow CEO Bill McDermott downplayed concerns that the Iran war is disrupting the company's business.
ServiceNow's Q1 subscription revenue growth included a 75 basis point headwind from Middle East delays.
KEY POINTS
- CEO Bill McDermott clarified that Middle East disruptions are timing-related, not due to demand weakness.
- Despite beating revenue and earnings expectations, ServiceNow shares fell 13% in after-hours trading.
- McDermott asserted that AI adoption is driving increased demand for ServiceNow, countering investor fears.
- ServiceNow shares are down roughly 30% this year amid broader investor concerns about AI disruption.
COMPANIES
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