ServiceNow shares slide after earnings miss despite raised AI outlook

MarketWatch reports ServiceNow shares fell 18% in after-hours trading on October 28 despite more multimillion-dollar AI deals and a raised full-year AI contract target of $1.7 billion. Bloomberg reports that the company’s quarterly subscription-sales outlook met analysts’ estimates, but its forecast for current remaining performance obligations, a measure of bookings, fell just shy of analysts’ average projection.