ServiceNow has lived up to the feeding frenzy surrounding its partners by posting lightning growth for its first quarter.
The cloud-based IT services management vendor trumped Wall Street expectations by posting revenues of $416.8m for the three months to 31 March 2017, 36 per cent up on the year.
Subscription revenues, seen as a good metric for future growth, bounded 41 per cent to $376.1m, although net losses hit $40.7m
ServiceNow partners are currently sizzling-hot property, with Computacenter the latest to grab itself a consultancy specialising in the vendor's technology, following similar moves from the likes of Accenture and Fujitsu.
The NYSE-listed firm added 26 new Global 2000 customers in Q1, compared with 21 in the same period last year. It now has 370 customers that spend more than $1m annually with it.
The firm recently changed CEOs, with previous big cheese Frank Slootman handing the reins to John Donahoe. During his six years in charge, Slootman grew ServiceNow from 375 to 5,000 employees, and its revenues from $93m to $1.4bn. Its market cap now stands at around $15bn.
"We're off to a strong start in Q1, continuing to diversify our business mix," Donahoe said of the Q1 results.
"Now 73 per cent of all our customers license more than one product up from 50 per cent two years ago. As Frank passes the torch, the company is well positioned to deliver on its goals with loyal customers and a growing partner ecosystem."
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