ServiceNow raises annual subscription revenue forecast again on AI-driven demand

July 22 : ServiceNow on Wednesday raised its forecast for annual subscription revenue for the second time after beating second-quarter revenue and profit estimates, driven by growing demand for its AI-powered software.Shares of ServiceNow rose over 5 per cent in volatile extended trading. They have fallen about 37 per cent so far this year.The results come as software giants are grappling with concerns of a "SaaSpocalypse" - a term reflecting the gloom around software-as-a-service companies amid growing capabilities of new AI tools provided by startups like OpenAI and Anthropic.But ServiceNow is expanding its AI agent portfolio across domains like IT and customer service, helping enterprise clients to automate complex, time-consuming workflows. Earlier this year, ServiceNow launched Otto,