GAAP loss per share in the recently ended quarter widened to $0.47 from a loss of $0.42 per share in the prior-year quarter.
Subscription revenue, which accounts for the lion’s share of Workday’s total revenues, surged 37.5% year-over-year to $673.5 million for the quarter ended January 31, 2019. Revenue from Professional Services segment jumped 24% to $115.1 million. Subscription revenue backlog of $6.74 billion was up 30% annually.
For the fiscal year 2020, the company expects subscription revenue of $3.030 billion to $3.045 billion, representing year-over-year growth of approximately 27% to 28%.
Commenting on the Q4 results, CEO Aneel Bhusri said, “This was a strong close to fiscal 2019. It was not only a record quarter for Workday Financial Management, but we now have half of the Fortune 50 and approximately 40 percent of the Fortune 500 as Workday customers.”
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Cloud giant Salesforce (CRM) is set to report its fourth quarter results on March 4, Monday. Shares of CRM also hit a fresh yearly high on today’s trading session.
Shares of Workday, which edged up 0.24% to $197.93 on Thursday, gained 24% since the beginning of 2019 and 36% in the past three months period.
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