Jim Cramer on ServiceNow: "Haven't Seen Any Signs of Artificial Intelligence Impacting Their Earnings"

ServiceNow, Inc. (NYSE:NOW) is one of the stocks Jim Cramer recently discussed. While discussing the company, Cramer noted how AI has impacted the enterprise software stocks. He said:

“While this has been a great year for anything connected to AI, it’s been pretty darn awful for the enterprise software space. Because if there’s one thing that AI’s already good at, it’s writing the code that the enterprise software guys give you, and that’s why even the highest quality enterprise software companies have gotten slammed.

Take Cramer fave ServiceNow, which helps its customers automate all sorts of IT and back office jobs. Going into today’s close, this stock was down almost 24% from its all-time high in January. But here’s the thing, we haven’t seen any signs of artificial intelligence impacting their earnings. Tonight, ServiceNow reported another excellent set of numbers, 22% revenue growth, 56% earnings beat off a $4 and 26-cent basis. Even better, management raised nearly every line, every line of their full-year forecast.”

ServiceNow, Inc. (NYSE:NOW) provides cloud-based workflow solutions through its Now Platform, which integrates AI, automation, analytics, and low-code development tools.

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Disclosure: None. This article is originally published at Insider Monkey.