Middle East Headwinds
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ServiceNow Shares Tumble on Iran War Impact to Subscription Revenue
ServiceNow exceeded Q1 estimates despite Middle East headwinds affecting subscription revenue. The company reported strong overall revenue growth and raised its full-year subscription revenue forecast for 2026. Significant investments in AI are showing momentum, with the AI product portfolio on track to surpass its $1 billion target. ServiceNow also ramped up share repurchases and expanded its partnership with Google Cloud, alongside completing the $7.75 billion acquisition of cybersecurity firm Armis.
