ServiceNow Stock Falls 17% Amid Impact of Iran Conflict on Q1 Sales
ServiceNow (NOW) stock fell 17% as the ongoing conflict in the Middle East delayed subscription sales, affecting Q1 growth. The company reported a 22% increase in subscription revenue to $3.67 billion, but noted a 75 basis point headwind from the conflict. The decline in ServiceNow's stock is part of a broader sell-off in software stocks, including Salesforce (CRM), Oracle (ORCL), and Adobe (ADBE).
Tickers: $ADBE $CRM $NOW $ORCL
Topics: earnings report Middle East conflict ServiceNow software stocks stock price