Enterprise workflow software maker ServiceNow (NYSE:NOW) will be reporting earnings tomorrow afternoon. Here's what you need to know.

Last quarter ServiceNow reported revenues of $2.1 billion, up 21.7% year on year, in line with analyst expectations. It was a mixed quarter for the company, with subscription revenue coming in ahead of estimates. Adjusted operating profit also beat by 9% in the quarter. However, there was a slowdown in new contract wins.

Is ServiceNow buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting ServiceNow's revenue to grow 21.5% year on year to $2.13 billion, slowing down from the 24.3% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.05 per share.

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.

With ServiceNow being the first among its peers to report earnings this season, we don't have anywhere else to look at to get a hint at how this quarter will unravel for software stocks, but there has been positive sentiment among investors in the segment, with the stocks up on average 8.84% over the last month. ServiceNow is up 7.94% during the same time, and is heading into the earnings with analyst price target of $596.38, compared to share price of $580.66.

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The author has no position in any of the stocks mentioned.