Earnings Call
Jul 22, 2026
Q2 FY2026
EPS Estimate
0.86
EPS Actual
0.90
Post-Earnings Close
$91.94
Earnings Reaction
-3.7%
ServiceNow delivered a standout second quarter that exceeded guidance across every reported metric by a meaningful margin, with subscription revenue of $3.877 billion growing 23% in constant currency, 150 basis points above the high end of guidance. Current RPO growth of 21.5% in constant currency beat guidance by 200 basis points, and non-GAAP operating margin of 29.5% came in 300 basis points ahead of expectations. The breadth of outperformance, spanning top-line growth, backlog expansion, and profitability, reinforces the company's positioning at what management repeatedly characterized as the 'bull's eye' of enterprise AI adoption.
Report generated on Jul 23, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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