What factors drove NOW's strongest earnings quarter in 2024?

ServiceNow's (NOW) strongest earnings quarter in 2024 was driven by several key factors:

1. Revenue Growth: The company reported a total revenue of $10.98 billion, reflecting a 22% increase from the previous year. This growth was primarily driven by strong sales in their key product areas.
2. Net Income Growth: ServiceNow's net income for the quarter was $1.43 billion, representing a 0.18% increase year-over-year. This growth in net income, despite the slight increase in net income, indicates efficient management and operational effectiveness.
3. Diluted EPS Growth: The diluted EPS for the quarter was $6.84, which saw a slight decrease of 1.29% from the previous year. This slight dip was overshadowed by the overall growth in revenue and net income.
4. Regional Performance: The company's performance in the Swiss region was particularly notable, with Novartis AG reporting a 9.7% increase in revenue and a 25% rise in net income for the first quarter of 2024 compared to the previous year. This was driven by the strong performance of their flagship drugs and the expansion of their pipeline.
5. Product Performance: Key products such as Entresto, Cosentyx, and Kisqali continued to show significant sales growth, contributing to the overall revenue and net income growth. For instance, Entresto's sales grew by 31%, while Cosentyx's sales increased by 25%.
6. Innovation and Pipeline: Novartis's focus on innovation and the achievement of important milestones in their pipeline, such as FDA approvals and positive opinions for several drugs, have fueled their growth in the medium and long term. This strategic focus on innovation has likely contributed to their strong earnings performance.

In conclusion, ServiceNow's strongest earnings quarter in 2024 was driven by a combination of revenue growth, efficient management, and strategic product focus, with key products and regional performance playing significant roles in the company's success.