Software stocks getting hit again after hours due to the ServiceNow CEO leaving the company to lead Nike. NOW is down 9% after hours after already falling 5% today and seems to be taking most software stocks down another 1% or so after hours.
https://finance.yahoo.com/m/387b4c06-a943-3020-abb5-ed60cc95…
NOW actually comes out with earnings tomorrow along with MSFT, so that should be more telling of the current environment.
NOW delivered another beat and I believe is, or will be, credited with turning the Cloud stocks around after hours today.
ServiceNow (NOW) came out with quarterly earnings of $0.99 per share, beating the Zacks Consensus Estimate of $0.89 per share. This compares to earnings of $0.68 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 11.24%. A quarter ago, it was expected that this maker of software that automates companies’ technology operations would post earnings of $0.64 per share when it actually produced earnings of $0.71, delivering a surprise of 10.94%.
https://finance.yahoo.com/news/servicenow-now-q3-earnings-re…