ServiceNow Results Fail to Convince Investors of Momentum
Dow Jones
2 hours ago
1248 ET - ServiceNow's latest results didn't convince investors that it's building momentum, JPMorgan analysts say. Investors are primarily concerned about a projected slowdown in the company's cRPO [current remaining performance obligations] metric, the analysts say. The slowdown is largely due to ServiceNow changing the scope of the cRPO metric to remove certain revenue drivers, the analysts say. The analysts think cRPO will eventually recover, as there are signs of strength in the underlying business. ServiceNow tumbles 25%.
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