ServiceNow Shares Plunge 24% After Earnings

ServiceNow shares sank 24% on Thursday after third-quarter results underwhelmed, reigniting AI disruption fears. Revenue grew more than 20% to $4.11 billion, while adjusted earnings missed at $1.00 per share versus a $1.02 forecast. Net new AI average contract value jumped 65%, yet investors remain spooked by the lack of immediate payoff for forward-deployed engineering teams.