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Earnings Are Coming In Strong: Don't Read Too Much Into ServiceNow
ServiceNow beat on revenue and earnings last night, growing subscription revenue 22% year over year, raising full year guidance, and posting AI-specific commitments on track to hit $1.5 billion for 2026. The stock dropped 14% anyway because the company flagged a 75 basis point headwind from delayed Middle East deals due to the Iran war. This morning I make the case that software earnings are going to look healthy this season and that ServiceNow was simply the first IGV name out of the gate and got caught in a bad news cycle. I also run through Tesla, SK Hynix, IBM, Texas Instruments, CSX, GE…
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