Software stocks plunge on ServiceNow, IBM results as AI fears escalate [CNBC]
ServiceNow, Inc. (NOW)
Last servicenow, inc. earnings: 4/29 04:10 pm
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Source: CNBC
Salesforce, Workday and Oracle also dropped as the market continues to suffer from concerns that they'll get at least partially displaced by artificial intelligence. ServiceNow cited the U.S.-Iran war as another factor weighing on results. In this article Software stocks plummeted on Thursday as disappointing results from ServiceNow and IBM added to fears that artificial intelligence tools and services will disrupt their businesses. Shares of ServiceNow sank 17% Thursday, on pace for its worst day ever. The company narrowly beat Wall Street's estimates Wednesday, but said that conflict in the Middle East created a “headwind” for quarterly subscription revenue. IBM beat on earnings and revenue but maintained guidance. The stock dropped 9%. Salesforce and Hubspot each fell about 9%. Adobe and Intuit were down roughly 7%, and Oracle fell about 5%. Workday slid 10% Thursday, and is down over 45% this year. The iShares Expanded Tech-Software ETF (IGV) , which generally tracks th
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- 4/22/26 - Form 8-K
- 4/20/26 - Form S-8
- NOW's page on the SEC website