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ServiceNow shares plunge 24% after Q3 earnings miss estimates, reviving AI disruption fears
Enterprise software company ServiceNow's stock sank 24% on Thursday, marking its worst day ever, after its third-quarter results underwhelmed and reignited concerns about artificial intelligence disrupting traditional software business models. The company reported adjusted earnings of $1.00 per share, falling short of analysts' forecast of $1.02, though revenue of $4.11 billion was largely in line with expectations. This performance did little to alleviate broader "SaaSpocalypse" fears.
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