Although the software industry has seen tumultuous times recently, ServiceNow CEO Bill McDermott is looking ahead optimistically. At the Knowledge 2022 conference in Las Vegas in late May, McDermott outlined new financial targets. According to McDermott, ServiceNow is on track to do $11 billion in revenue by FY 2024, an increase in comparison to the previously projected $10 billion. Additionally, ServiceNow expects to hit $16 billion by FY 2026, another increase in comparison to the prior estimate of $15 billion.
“We couldn’t be more excited or more positive about where ServiceNow is going,” said McDermott. The company “has established itself as an enduring platform.”
ServiceNow has been aggressively expanding beyond its core IT business into other newer verticals like low-code application development and ERP. The company has also consistently reported strong financial results. In the first three months of 2022, overall revenue grew to $1.72 billion – much better than originally expected.
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