Workday (WDAY), on Thursday, reported earnings and revenues for the first quarter that exceeded analyst expectations. The company's outlook also met expectations. The WDAY stock soared after the announcement.
After the close of the market, enterprise software maker announced its results. The WDAY stock rose nearly 9% in extended trading today.
Workday's adjusted earnings for the three-month period ended April 30 were $1.31 per share, an increase of 58% over the previous year. The revenue grew 17%, to $1.68 billion including acquisitions.
Analysts predicted Workday earnings to be $1.12 per share, based on $1.67 billion in revenue. In the year prior, Workday's earnings per share were 83 cents on $1.44 billion in sales.
WDAY Stock Subscription Revenue Up 20%
Workday, based in Pleasanton, Calif., reported a 20% increase in subscription revenue to $1.53 Billion, beating estimates of $1.52 Billion.
The software maker expects subscription revenue to be $1.612 billion for the current quarter, ending in July. This is in line with analyst expectations.
Workday has announced that Zane Rowe is its new Chief Financial Officer. Rowe was CFO of VMware (VMW).
It also sells payroll software. It has also expanded into financial software.
According to IBD stock checkup, WDAY stocks has a Relative strength Rating of 91. This is out of the best possible 99. WDAY stock formed a cup-base with an entry of 206.78.
The WDAY stock price has risen 17% so far in 2023.