ServiceNow CEO downplays impact of Iran war and AI: 'Our business is doing great'

servicenow's ceo bill mcdermott says the war in iran isn't really hurting business, even though it caused some delays. the company's subscription revenue still grew 19% last quarter, though delayed deals in the middle east created a 75 basis point headwind. mcdermott called it a timing issue, not a demand problem, noting that sovereign cloud deals there are sensitive to delays. despite beating revenue and earnings expectations, servicenow's stock dropped 13% after hours. shares are down about 30% this year, partly on fears that ai could disrupt its business. mcdermott pushed back hard, arguing ai is a "tailwind" because everything automated needs workflow software, which is servicenow's specialty. he said demand trends are strong, with a growing user base and accelerating ai adoption. "our business is doing great," mcdermott told cramer. "and it's all about ai."