ServiceNow posted a Q2 beat with revenue of about $3.98–$3.99 billion and non-GAAP EPS of $0.90, surpassing expectations as it raised its AI-driven guidance and highlighted momentum in AI controls and governance products. The company lifted its AI annual contract value target to $1.5 billion for 2026, with AI-related ACV surpassing $1 billion in the quarter and cRPO up about 21%, supporting a durable renewal base and higher long-term visibility. Subscription revenue rose roughly 23–24%, while remaining performance obligations climbed to about $13.2 billion, underscoring durable demand despite AI disruption fears. Shares moved from initial gains to a pullback in regular trading, then partially recovered in after-hours trading as investors weighed the results against volatility. Analysts cited AI momentum as a key growth driver, with JPMorgan and BofA Securities noting solid demand and cRPO/subscription growth, and Cantor Fitzgerald maintaining a bullish stance and price targets around $141. Management highlighted the AI Control Tower and multi-product adoption as central to scalable AI deployment and renewal-driven expansion.