0.6 C
London
Friday, December 9, 2022

Here’s why ServiceNow’s stock rose in a week with dismal tech earnings reports • londonbusinessblog.com

Must read

Elon Musk Says He’s Deleting 1.5 Million Twitter Accounts

Still focused on his seemingly endless war against bot and spam accounts, Elon Musk is now vowing to remove another 1.5 million accounts from...

Colby Brock’s Biography – Age, Height, Girlfriend, Net Worth

Who is Colby Brock? Wiki bio Colby Brock was born in Stanley, Kansas USA, on January 2, 1997 – his zodiac sign is Capricorn...

Brandon Frankel- Wiki, age, height, net worth, wife, ethnicity

Brandon Frankel is a well-known American talent manager, social media influencer, media face, celebrity husband, content producer and entrepreneur from Buffalo Grove, Illinois. ...

Isaac Ortega: Facts About Wednesday Actress Jenna Ortega’s Brother

Isaac Ortega is the brother of an American actress Jenna Ortega (aka Jenna Marie Ortega). His sister is best known as a young...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

If you are a regular customer? reader of this publication, chances are you know that it hasn’t been a great year for many tech stocks – one in which giants like Meta, Amazon and Alphabet have been torn apart by the markets after less than stellar earnings reports.

Even a loyal company like Salesforce is being chased by activist investors.

The fact is, few have been spared, be it startups or established public companies. We’ve seen a litany of stories about employee freezes, layoffs and tech stocks take bigger hits than an NFL quarterback behind a bad offensive line — in other words, getting crushed.

SaaS stocks in particular are having a tough year, so if a SaaS stock is doing well, that’s news. And that’s what happened to ServiceNow this week when it reported Q32022 earnings.

It beat odds with a mostly positive earnings report – good earnings, good guidance, the whole nine yards – and believe it or not, Wall Street rewarded the company, up more than 13% at the bell on Thursday, a number that kept stable throughout the day. (It was down about 1% in today’s trading so far.)

Maybe we’re not the only ones looking for some good news. Maybe so are investors. But what led to this positive revenue anomaly in 2022? To find out, let’s take a look at the earnings report and the impact of hiring former SAP CEO Bill McDermott to lead the company.

A look at the numbers

Given the general carnage we’ve seen this quarterly cycle in the public tech revenue markets – Snap started business with a raspberry, quickly followed by other leading tech stores that failed to live up to Wall Street’s austere expectations – the boomlet of the ServiceNow stock price caught our eye and made us curious about what the company had accomplished that was so commendable by investors.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Elon Musk Says He’s Deleting 1.5 Million Twitter Accounts

Still focused on his seemingly endless war against bot and spam accounts, Elon Musk is now vowing to remove another 1.5 million accounts from...

Colby Brock’s Biography – Age, Height, Girlfriend, Net Worth

Who is Colby Brock? Wiki bio Colby Brock was born in Stanley, Kansas USA, on January 2, 1997 – his zodiac sign is Capricorn...

Brandon Frankel- Wiki, age, height, net worth, wife, ethnicity

Brandon Frankel is a well-known American talent manager, social media influencer, media face, celebrity husband, content producer and entrepreneur from Buffalo Grove, Illinois. ...

Isaac Ortega: Facts About Wednesday Actress Jenna Ortega’s Brother

Isaac Ortega is the brother of an American actress Jenna Ortega (aka Jenna Marie Ortega). His sister is best known as a young...

Japan, Great Britain and Italy are going to build jet fighters together

Japan, Britain and Italy are merging their next-generation fighter jet projects in a pioneering partnership that spans Europe and Asia. This is Japan's...