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 feature The HP-Autonomy lawsuit: Timeline of an M&A disaster When Hewlett Packard bought knowledge management software firm Autonomy, it didn’t realize it was buying into a multibillion accounting cover-up. Shareholders sued HP, and HP sued Autonomy CEO Mike Lynch. Here’s how it played out over the By Peter Sayer Jun 07, 2024 9 mins HP Mergers and Acquisitions Enterprise Applications news Jury clears Autonomy CEO of fraud charges The case stemmed from Hewlett-Packard’s 2011 purchase of Autonomy for $11.1 billion. Some have blamed former CEO Meg Whitman for not testifying in the case. By Evan Schuman Jun 07, 2024 4 mins Fraud Legal Mergers and Acquisitions feature AES enlists AI to boost its sustainable energy business The American power supplier’s machine learning weather and output forecasting platform is fueling revenue growth while advancing the company’s renewable wind, solar, and energy storage goals. By Paula Rooney Jun 07, 2024 7 mins Energy Industry Digital Transformation Artificial Intelligence feature Top 8 IT certifications in demand today IT certifications can help you quickly gain and validate valuable skills and know-how in a domain that will further your career. Here are the most popular IT certs today. By Sarah K. White Jun 07, 2024 10 mins Certifications IT Skills Careers 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