ServiceNow raises annual guidance after strong Q2 earnings

What happened: ServiceNow (NOW) and United Parcel Service (UPS) both reported strong Q2 earnings and raised their full-year guidance. ServiceNow's revenue and earnings per share (EPS) beat estimates, leading the company to raise its annual subscription revenue forecast to at least $15.755 billion. UPS's earnings and revenue also surpassed expectations, prompting the company to increase its full-year earnings guidance.

Market impact: These positive results drove shares of both companies higher in premarket trading, with ServiceNow opening in the green and UPS shares rising slightly. The earnings beats and raised guidance indicate strong performance in the tech and logistics sectors, signaling potential growth opportunities for investors.

What to watch next: ServiceNow's Q3 earnings report on August 31 and UPS's Q3 results on October 26 will provide further insights into the companies' performance. Additionally, investors should monitor overall market sentiment and economic indicators to gauge the broader impact on these sectors.