ServiceNow (NOW) Stock Falls 19% After Q3 Earnings Miss Despite Revenue Beat

TLDR ServiceNow (NOW) stock fell about 19% to $121.70 in Thursday premarket trading after a Q3 earnings miss. Adjusted EPS came in at $1.00, short of the $1.02 estimate, while revenue of $4.11 billion beat the $4.10 billion estimate. The company raised its 2026 AI annual contract value target to $1.7 billion, up 70% from the start of the year. Q4 subscription revenue guidance is $4.245 billion to $4.255 billion, and full-year free cash flow margin guidance rose to 36%. CEO Bill McDermott blamed the 2-cent miss on interest costs tied to recent acquisitions. ServiceNow (NOW) stock was down 18.94% at $121.70 in premarket trading on Thursday. The drop followed third-quarter results that beat on revenue but missed on earnings .

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