Why ServiceNow Stock Surged More Than 9% on Thursday

·2 min read
Why ServiceNow Stock Surged More Than 9% on Thursday

Shares of ServiceNow (NYSE: NOW) charged sharply higher Thursday, surging as much as 15%, before ending the trading day up 9.1%. ServiceNow generated revenue of $1.61 billion, up 30% year over year, renewing investors' confidence in the company's growth story. ServiceNow's current remaining performance obligation -- which represents sales that are under contract and will be recognized as revenue over the coming 12 months -- swelled to $5.7 billion, up 29% year over year.

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