ServiceNow reported higher third-quarter revenue boosted by growth in its subscription income.

The company posted net income of $277 million, or 27 cents a share, down from $502 million, or 48 cents a share, the year prior.

Adjusted earnings were $1 a share. Analysts polled by FactSet expected $1.02 a share.

Revenue rose to $4.11 billion from $3.41 billion, as subscription revenue rose 21%. Wall Street expected $4.09 billion.

The company guided for fourth quarter subscription revenues of $4.25 billion to $4.26 billion.