NEW YORK (TheStreet) -- Shares of ServiceNow were falling 9.9% to $74.62 after-hours Thursday after the enterprise cloud company reported its first quarter results. ServiceNow reported earnings of 1 cent a share for the first quarter, above analysts' estimates of break-even earnings for the quarter. Revenue grew 52.4% year over year to $211.96 million for the quarter, compared to analysts' estimates of $210.81 million. "We are off to a solid start in 2015 as we head into Knowledge, our annual conference," President and CEO Frank Slootman said. "We closed eight new deals this quarter with an annualized contract value in excess of $1 million." The company said it expects revenue of $237 million to $242 million for the second quarter, compared to analysts' estimates of $241.96 million. ServiceNow expects to report revenue of $970 million to $1 billion for full year 2015. Analysts expect the company to report revenue of $990.25 million for the year. TheStreet Ratings team rates SERVICENOW INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation: "We rate SERVICENOW INC (NOW) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, generally high debt management risk and feeble growth in its earnings per share." You can view the full analysis from the report here: NOW Ratings Report NOW data by YCharts Must Read: Warren Buffett's Top 25 Stocks for 2015
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