New Delhi, April 23 -- Shares of ServiceNow came under heavy selling pressure on Thursday, 23 April, in an otherwise flat market, as investors were disappointed with the company's growth outlook, even as its Q1 numbers were decent.

The shares opened sharply lower and extended losses in early trade, plunging 18.10% to an intraday low of $84.41, wiping out gains from the previous eight sessions.

The enterprise software provider reported first-quarter results on Wednesday that narrowly beat analysts' expectations, but traders are fixating on a cut to its projected operating margin.

ServiceNow said earnings for the quarter ended 31 March stood at 97 cents per share, up 20% from a year earlier. Subscription revenue rose 22% to $3.67 billion...