ServiceNow raises annual subscription revenue forecast on robust demand

ServiceNow raised its full-year subscription revenue forecast on Wednesday as its enterprise customers adopt artificial intelligence-enabled cloud-based software.

ServiceNow’s shares were up more than 7% in extended trading and have gained 3.5% so far this year, underperforming the S&P 500 index.

A burgeoning demand for workflow automation and the company’s continued efforts in generative AI helped ServiceNow drive growth.