ServiceNow's (NYSE: NOW) stock price dipped 3% on July 28 following its second-quarter report. The cloud-based software company's adjusted revenue rose 30% year over year to $1.82 billion, which beat analysts' estimates by $60 million. Its adjusted net income grew 15% to $329 million, or $1.62 per share, which also beat the consensus forecast by $0.07.
Those headline numbers look solid, but ServiceNow reduced its guidance for the core subscription business, which brought in 95% of its revenue in the first half of 2022. For the full year, it expects its subscription revenue to increase about 24%, compared to its previous forecast for 28% growth.
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Source Fool.com