ServiceNow shares fell 2.57% to $140.99 in Monday premarket trading as escalating US-Iran tensions pressured global equities. US forces struck Iranian rocket launchers on Larak Island in the Strait of Hormuz over the weekend, the first direct US strikes against Iranian forces in more than a month. Iran’s Islamic Revolutionary Guard Corps responded with drone and missile strikes against US bases in Jordan, while the United Arab Emirates intercepted Iranian drones over domestic waters. The confrontation pushed crude oil prices higher and weighed on Dow Jones, S&P 500 and Nasdaq futures. ServiceNow’s decline also followed a 30% gain over the trailing month and came after its second-quarter results, which showed revenue rising 24% year over year to $3.99 billion. Subscription revenue reached $3.88 billion, above the top end of management’s guidance, as enterprise adoption of its GenAI (generative artificial intelligence) products accelerated. The company’s Now Platform and Now Assist modules crossed $1 billion in annual contract value. Chairman and Chief Executive Officer Bill McDermott said generative AI integrations and workflow automation were expanding contracts among global enterprise customers.