ServiceNow Q1業績超預期,人工智慧驅動增長強勁
美東時間4月22日盤後,ServiceNow(NOW.US)股價上漲約2.93%,報103.07美元。此前公司公佈2026年第一季度財報,核心營收與利潤指標均超出市場預期,同時上調全年訂閱收入指引,提振市場情緒。

(圖源:uSMART HK app)
營收與利潤雙超預期,基本面延續高增長
財報顯示,ServiceNow一季度總營收達37.7億美元,同比增長22%;其中訂閱收入為36.71億美元,同比增長22%,在固定匯率下增長19%。盈利方面,公司實現淨利潤4.69億美元,Non-GAAP淨利潤為10.12億美元;對應GAAP每股收益0.45美元,Non-GAAP每股收益0.98美元,整體盈利能力穩步提升。從結構來看,訂閱業務仍是增長核心,占比持續提升,反映出公司在企業級軟體與雲服務領域的粘性優勢。
大客戶擴張明顯,訂單與儲備持續走強
訂單層面,公司增長動能同樣強勁。截至2026年3月31日,當前剩餘履約義務(cRPO)為126.4億美元,同比增長22.5%;總剩餘履約義務達277億美元,同比增長25%。同時,高價值客戶增長尤為突出:本季度新增年度合同價值(ACV)超過500萬美元的交易達16筆,同比增長接近80%;對應客戶總數增至630家,同比增長約22%。此外,Now Assist相關客戶數量同比增長超過130%,顯示AI產品正在加速商業化落地。
AI與平台能力融合,打開新增長空間
管理層強調,人工智慧正成為驅動公司新一輪增長的關鍵變數。ServiceNow正在將智能體AI、工作流自動化、安全能力與數據架構整合至統一平台,強化其“企業運營中樞”的定位。公司CEO表示,客戶正將ServiceNow作為“AI控制塔”,以實現跨系統整合與業務重塑,這一趨勢正在顯著提升平台使用深度與客戶黏性。
收購與回購並行,強化長期戰略佈局
戰略層面,公司已完成對安全廠商Armis的收購,進一步拓展在網路安全與企業智能運營領域的佈局,預計將對中長期訂閱收入形成支撐。
與此同時,公司持續推進股東回報。一季度累計回購約2010萬股股票,總金額約2.25億美元;截至季末,現有回購授權餘額仍約42億美元。
全年指引上調,增長確定性增強
基於一季度的強勁表現,ServiceNow上調全年訂閱收入預期。管理層認為,隨著AI能力持續落地及企業數位化轉型深化,公司仍處於增長曲線的加速階段。整體來看,在AI驅動、客戶結構優化及訂單儲備充足的多重支撐下,ServiceNow正鞏固其在全球企業軟體市場中的領先地位,短期業績兌現與中長期成長邏輯均較為清晰。
如何在 uSMART 上購買ServiceNow
登入 uSMART HK APP 後,於頁面最右上方點擊「搜索」,輸入標的代碼(NOW.US)並進入詳情頁,瞭解交易詳情與歷史走勢。點擊右下角「交易」,選擇交易類型,最後填寫交易條件後送出訂單即可。
(圖源:uSMART HK app)
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