ServiceNow Q1 Loss Widens

(RTTNews) - ServiceNow, Inc. (NOW) reported a net loss for the first quarter of $58 million or $0.38 per share, compared to a net loss of $43 million or $0.30 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $2 million or $0.01 per share, compared to an adjusted net loss of $11 million or $0.08 per share in the prior year quarter.

Revenues for the first quarter rose 52% to $211.96 million from $139.09 million a year ago.

Analysts polled by Thomson Reuters expected the company to report breakeven per share on revenue of $210.81 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts revenue of $237 million to $242 million for the second quarter and $970 million to $1 billion for the full year 2015. Previously, the company forecast full year 2015 revenue to be $960 million to $1 billion. Analysts currently expect the company to post revenue of $241.96 million for the second quarter and $990.25 million for the full year 2015.