ServiceNow CEO Bill McDermott said that global challenges like the war in Ukraine u201chave underscored the urgency of investment in digital business.u201d Credit: © SAP Helpdesk software-as-a-service provider ServiceNow continues to grow its subscription business, despite significant global challenges, including the ongoing war in Ukraine. The company, which is led by former SAP CEO Bill McDermott, posted revenue of $1.7 billion for the first quarter of 2022, up 27% from the previous year. Subscription revenue accounted for the vast majority of that number, at $1.6 billion, which was up 26% year‑over‑year, while professional services accounted for the remaining $91 million in revenue. Net income for the quarter was $75 million. Referencing ongoing business challenges, such as rising inflation and the ongoing war in Ukraine, ServiceNow CFO Gina Mastantuono said that while “enterprises are navigating a macro environment filled with a myriad of challenges,” ServiceNow has been able to “to continue delivering strong results.” McDermott also shrugged off any potential business impact of Russia’s invasion of Ukraine. “While there are significant challenges in the world, particularly in the Eastern European situation, we have not seen a material impact on our market. To the contrary, the challenges have underscored the urgency of investment in digital business,” he told analysts. Last month, ServiceNow launched the latest version of its workflow automation platform, called San Diego, which featured an updated design alongside a substantial focus on automation, supported by added robotic process automation capabilities. Related content news SAP, IBM Consulting partner to offer genAI-based services The partnership will see both companies offer generative AI-based services to enterprises via RISE with SAP offering. By Anirban Ghoshal May 09, 2024 3 mins Generative AI IBM SAP feature Essential skills and traits of chief AI officers CAIOs require a multidimensional skill set to drive innovation, establish and lead an AI-ready culture, and create tangible organizational results leveraging a complex and rapidly evolving technology. By David Weldon May 09, 2024 9 mins Artificial Intelligence IT Leadership case study How being cloud smart fosters growth at Saab Fuelled by global turbulence and increasing defense budgets, Swedish defense group Saab is meeting high demand by integrating efforts to become more software-driven, and central to managing it all is CIO Annette Eriksson. By Karin Lindström May 09, 2024 5 mins CIO Aerospace and Defense Industry Cloud Architecture interview Strong CIO-CISO relations fuel success at Ally CIO Sathish Muthukrishnan and CISO Donna Hart have forged a partnership steeped in Ally’s culture of radical candor that keeps the financial services firm secure and innovative. By Dan Roberts May 09, 2024 9 mins CIO CSO and CISO IT Leadership PODCASTS VIDEOS RESOURCES EVENTS SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe