ServiceNow Inc

**Strong Financial Performance**: ServiceNow reported Q3 2024 subscription revenues of $2.715 billion, reflecting a 22.5% year-over-year growth in constant currency, exceeding guidance by 200 basis points. The company also achieved a non-GAAP operating margin of over 31%, which is more than 150 basis points above guidance. Remaining Performance Obligations (RPO) grew to approximately $19.5 billion, representing 33% year-over-year constant currency growth.

**AI-Driven Growth Prospects**: ServiceNow's generative AI product, Now Assist, has gained significant traction, with 44 customers spending more than $1 million on it. The company introduced "Xanadu," its most comprehensive AI release to date, which includes over 350 new innovations and addresses AI-powered automation across various sectors. The growth potential from AI integration is expected to provide substantial upside as it becomes a core component of enterprise transformations.

**Improving Market Position and Strategic Relevance**: The company's growing brand awareness and strategic relevance were emphasized, with key customer successes in various industries such as defense, financial services, and healthcare. The partnership with NVIDIA is highlighted as a game changer for leveraging AI in enterprise operations, which expands ServiceNow’s addressable market toward $0.5 trillion.