ServiceNow (NOW) Revenue — Quarter Ended Mar 31, 2024
Revenue increased in the quarter, continuing the upward trajectory from the prior quarter. The growth rate compared to the same quarter last year was notably higher than the sequential increase.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue increased in the quarter, continuing the upward trajectory from the prior quarter. The growth rate compared to the same quarter last year was notably higher than the sequential increase.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.6B
Revenue reported for this quarter.
Quarter-over-quarter
+6.8%
Change from the immediately preceding quarter.
Year-over-year
+24.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$9.5B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $2.2B | +22.7% |
| Sep 30, 2023 | $2.3B | +25.0% |
| Dec 31, 2023 | $2.4B | +25.6% |
| Mar 31, 2024 | $2.6B | +24.2% |
Revenue performance
The reported revenue rose from the immediately preceding quarter, reflecting sustained demand. Compared with the same quarter one year earlier, revenue showed a substantial gain.
Quarterly comparison
Sequentially, revenue improved at a moderate pace, while the year-over-year comparison revealed a much stronger expansion. The trailing twelve-month revenue also increased relative to the prior full-year period.
What to watch
Monitor whether the sequential growth rate can sustain or accelerate in the coming quarters.