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00:02ServiceNow shares plunged 27% Thursday, marking their worst day on record after third quarter
00:09results reignited concerns about artificial intelligence disrupting traditional software
00:14business models, according to CNBC. The company reported adjusted earnings of $1 per share
00:20on revenue of $4.11 billion, missing expectations of $1.02 per share, and roughly matching revenue
00:28estimates of $4.10 billion. Revenue grew more than 20%. ServiceNow slightly raised its full-year
00:36subscription revenue outlook to between $15.78 billion and $15.79 billion, while net new AI
00:45average contract value jumped 65%. City analyst Tyler Radke said investors were disappointed by
00:52the lack of immediate returns from ServiceNow's investments in its forward-deployed engineering
00:57team, with improvements potentially taking until next year. For all things money, visit Benzinga.com.
