ServiceNow Reports Revenue Headwind Due to Middle East Deal Delays
ServiceNow reported a 75-basis-point revenue headwind in Q1 due to delays in closing large government deals in the Middle East, amid ongoing tensions from the Iran war. The company's stock fell 12% after hours, and fears of AI disruption continue to pressure the SaaS sector. IBM also saw its stock decline due to regional uncertainty.
Topics: AI disruption Earnings report Middle East conflict SaaS sector ServiceNow Stock price movement