ServiceNow issues strong guidance, shares +4.2% AH

|About: ServiceNow (NOW)|By:, SA News Editor

In addition to beating Q4 revenue estimates, ServiceNow (NOW) expects Q1 revenue of $133M-$135M and 2014 revenue of $640M-$645M, above consensus estimates of $131.1M and $611M.

Subscription revenue is expected to grow to $533M-$535M in 2014 from $349.8M in 2013, and services revenue to $107M-$110M from $74.8M.

Billings jumped 31% Q/Q and 70% Y/Y in Q4 to $166.2M, well above reported revenue of $125.2M. ServiceNow's total deferred revenue and backlog balance rose 59% Y/Y to $875.1M.