NOW Q1 2024 Earnings — Income Statement Breakdown
For its Q1 2024 period (ending 2024-03-31), NOW reported revenue of $2.6B, gross profit of $2.1B (80.0% gross margin), operating income of $332M, and net income of $347M (13.3% net margin). The flow of revenue into costs and profit is visualized below.
What changed
NOW was profitable; revenue grew 6.8% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | +6.8% | +17.6% | +1.2 pp |
Consensus estimate data is not available for this report.
NOW Q1 2024 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $2.6B | 100% |
| Cost of Revenue | −$520M | 20.0% |
| Gross Profit | $2.1B | 80.0% |
| Research & Development | −$606M | 23.3% |
| Selling, General & Administrative | −$1.1B | 44.0% |
| Operating Income | $332M | 12.8% |
| Other Income, net | $93M | 3.6% |
| Income Tax Expense | −$78M | 3.0% |
| Net Income | $347M | 13.3% |
Source: original SEC filing (filed 2024-04-24). Accession 0001373715-24-000163. Data normalized by EarningsFyi.