Shares of ServiceNow surged 5.04% during pre-market trading on Tuesday, ahead of the enterprise software company's fourth-quarter earnings report later this week. The rally comes on the back of positive analyst expectations for strong financial results.
Wall Street analysts are forecasting robust revenue growth of 21.5% year-over-year to $2.96 billion for the fourth quarter of 2024. Earnings per share are projected to rise 15.1% to $3.58, driven by increasing demand for ServiceNow's workflow solutions as businesses undergo digital transformation.
ServiceNow has consistently exceeded analysts' estimates in recent quarters, with the company benefiting from its expanding customer base and higher adoption of its products. Investors are optimistic about ServiceNow's ability to capitalize on the hybrid work trends and growing need for cloud-based enterprise software services.
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