$NOW · Schwab Network · 2026-10-29
NOW 本季度表现喜忧参半：营收 41.1 亿美元，略高于预期的 40.9 亿美元，但调整后每股收益 1.00 美元，低于 1.12 美元的预期；公司上调了 2026 财年订阅营收和自由现金流利润率指引，但整体仍大多低于华尔街预期，更为防御、波动更大的前景解释了股价约 18.75% 的跌幅。说话者表示，这并不意味着 NOW 的业务是负面的。
逐段跳播
确实，我们看到营收为41.1亿美元，实际上略高于市场预期的40.9亿美元。但我们看到调整后每股收益不及预期，为1美元整，市场预期为12美元。总ARPO为297亿美元，同比增长约22%。
他们确实上调了2026财年的订阅营收以及自由现金流利润率，但总体上仍低于市场预期。遗憾的是，他们的展望开始转变，在某些方面，他们的指引变得稍微更偏防御，这就是今早股价下跌的原因。就在我们说话时，该股下跌了约18.75%。
Definitely uh we are seeing revenue coming in at $4.11 billion. Actually, that did slightly beat the street's expectations of $4.09 billion. Uh but what we did see is a miss on the adjusted earnings per share coming in at a dollar even.
Street was looking for a $12 and the ARPO total re uh total ARPO came in at 29.7 billion growth of around 22% on a year-over-year basis. Now, they did raise their subscription revenue as well as their free cash flow margin for fiscal year 2026, but largely coming in below the streets expectations.
And unfortunately, their outlook is starting to transition. They're getting a little bit more defensive when it comes to their guidance in some respects and that's why we are seeing the move to the downside this morning.
As we speak, the stock is down about 18 and 3/4 of a percent.
关于Service Now，有意思的是，它算是拉开SaaS末日序幕的第一家公司。这一次真的会发生吗？这并不是说他们的业务是负面的，只是说他们变得稍微更偏防御，而且看起来客户导入和展望比他们预期的、或者说比他们在过去几个季度让市场相信的要更加反复不定。
What will be interesting with regards to Service Now, this was kind of that first company that kicked off the s the SAS apocalypse, if you will. Uh does that actually happen this time around?
It's not saying that their business is negative. It just means that they're getting a little bit more defensive and it looks like the onboarding and the outlook is a little bit more choppier than what they have expected or kind of what they led the street to believe over the last couple of quarters.
这个频道对 $NOW 的历次判断
Schwab Network 在这只股票上共 3 条判断，这里只列相邻的几条。