ServiceNow Inc (NYSE:NOW) stock rose 3.04% (As on Oct 28, 11:08:05 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the third quarter of FY 21. ServiceNow said subscription revenue rose 31% to $1.43 billion, topping estimates of $1.41 billion. As of September 30, 2021, current remaining performance obligations (“cRPO”), contract revenue that will be recognized as revenue in the next 12 months, was $5.0 billion, representing 32% year-over-year growth and 32% adjusted for constant currency. The company now has 1,266 total customers with more than $1 million in annual contract value, representing 25% year-over-year growth in customers.

NOW in the third quarter of FY 21 has reported the adjusted earnings per share of $1.55 cents, beating the analysts’ estimates for the adjusted earnings per share of $1.39. The company had reported the adjusted revenue growth of 31 percent to $1.51 billion in the third quarter of FY 21, beating the analysts’ estimates for revenue of $1.48 billion.

For the September quarter, ServiceNow forecast subscription revenue in a range of $1.515 billion to $1.52 billion, just above estimates of $1.51 billion.

On the other hand, the company has recently acquired Denmark-based Gekkobrain to streamline ERP migrations, modernize systems of record. With Gekkobrain, ServiceNow will extend the power of ServiceNow Creator Workflows, including App Engine, to help organizations identify and understand custom code in their ERP deployments and the business processes they support. Layering on the low-code capabilities of App Engine will help organizations rapidly and cost-effectively modernize their ERP systems by seamlessly identifying, automating, and customizing workflows to reduce the risk and cost traditionally associated with ERP software migrations.

Additionally, the company has also recently announced ServiceNow Messaging Service to help organizations drive better service experiences from issue to resolution.  Leveraging the Twilio platform, ServiceNow Messaging Service allows organizations to purchase SMS and WhatsApp directly from ServiceNow, making it easier to quickly integrate popular messaging platforms with ServiceNow workflows. This gives organizations another channel to engage with customers and employees, regardless of their location, and help quickly solve customer requests for a more seamless end‑to‑end experience. ServiceNow Messaging Service is an expansion of Twilio and ServiceNow’s ongoing and evolving partnership. The companies have worked together since 2019 to make messaging a core part of how businesses interact with their key stakeholders.

In addition, the company has announced an expansion to their alliance relationship to deliver environmental, social, and governance (ESG) focused solutions and services that extend KPMG offerings.