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Rohan Paul· @rohanpaul_ai · X· 2026-10-29 11:22 · Original publication time AI score39

ServiceNow shares fall 19% after hours despite higher AI contract targetMachine translation

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ServiceNow shares fell 19% after hours despite beating its own quarterly targets. Revenue grew 20.5% in the September quarter, down from 24% growth the quarter before; the company expects growth in revenue already contracted for the next 12 months to slow from 20.5% to 18.5% this quarter. AI deal volume rose 80% year over year, while its 2026 AI annual contract value target rose from $1B to $1.7B.

Original post · AI translation

Rohan Paul@rohanpaul_ai

Translation · refer to the original

尽管ServiceNow超过了自身的季度目标，但对“SaaS末日”的担忧仍使其股价在盘后下跌19%。

截至9月的季度，营收增长20.5%，至41.06亿美元，低于上一季度24%的增幅。

更令人担忧的是当前剩余履约义务，即未来12个月已签约的收入，该指标增长20.5%，至136.5亿美元。

ServiceNow预计本季度该指标的增幅将放缓至18.5%，尽管其给出的总营收指引约为42.5亿美元，同比增长约23%。

从数据上看，AI业务表现更为健康：AI交易量同比增长80%，2026年AI年度合同价值目标也从1月的10亿美元上调至17亿美元。

即便如此，相比2026年预计约157.7亿美元的订阅收入，17亿美元仍然较小；投资者担心，AI智能体可能侵蚀这一按席位收费的业务。

ServiceNow如今必须证明，AI收入的增长速度能超过其已签约收入增速放缓的速度，而下一季度的当前剩余履约义务数据将检验这一点。

11:22 · 2026-10-29 · UTC+8

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