Categories Earnings, Technology

Workday (WDAY) Q4 EPS beats by 10 cents

Workday (NASDAQ: WDAY) reported fourth quarter earnings of 50 cents per share, 10 cents higher than last year, despite incurring costs associated with the acquisition of Scout RFP. Wall Street analysts were expecting just $0.40 per share. 

The acquisition of Scout RFP, which is a cloud-based supplier engagement platform, was completed in December and was expected to have squeezed Workday’s Q4 margins. 

workday revenue trend Q4 2020

Meanwhile, the company continued to display strong growth in the topline in Q4, driven by strong demand  for its cloud-based enterprise applications, especially in Asia and Europe.  Revenue for the quarter grew 24% to $976.3 million, which surpassed street projection of $964.5 million, driven by a 25% jump in subscription revenues. 

“Our industry leading HCM solutions also continue to see strong adoption with 45 percent of the Fortune 500 and 60 percent of the Fortune 50 having selected Workday,” said CEO Aneel Bhusri.

READ: Here’s why Limelight Networks is a great stock during cord-cutting times

WDAY stock gained 2.8% immediately following the results. In the trailing 12 months, the stock is down 12%. 

Pointing to this laggard, Goldman Sachs analyst Heather Bellini had recently expressed optimism in the stock. Hinting at an initiation opportunity, the analyst also reiterated Buy rating on the stock.

Earlier today, The Street reported that Workday would cancel its annual sales meeting due to the coronavirus outbreak. The event was to be held at Orlando from March 2-4, in the attendance of over 3000 people.   

Competitor Oracle (NYSE: ORCL) is slated to report financial results on March 12. 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Key highlights from Autodesk (ADSK) Q4 2021 earnings results

Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per

Infographic: Beyond Meat (BYND) reports wider Q4 loss; Revenue up 4%

Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus

Virgin Galactic stock tanks on delayed test flight

Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top