ServiceNow shares fell about 25% to near $112 on Thursday after its third-quarter report, on track for their worst day since the company went public in 2012. Subscription revenue rose 21% to $3.99 billion and beat guidance, but the outlook disappointed, with fourth-quarter cRPO growth guided at just 18.5%. Management says much of the slowdown reflects early renewals in the third quarter that pulled deals out of the fourth, and expects fourth-quarter subscription revenue to grow 21.5% in constant currency. The stock has often recovered from past sharp drops, though it kept sliding after the January 2025 and December 2025 declines. At around 23 times expected 2027 earnings, the stock is now much cheaper than the roughly 30 times of the previous day.
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▼ Likely negativeInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 715.33 |
| Change that session | -1.42% |
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