Workday had projected Q1 revenue to be in the range of $812 million to $814 million, with subscription revenue of $692 million to $694 million.
“Based on our strong first quarter results, we are raising our fiscal year 2020 outlook for subscription revenue to $3.045 to $3.060 billion, or growth of 28%. We expect our second quarter subscription revenue to be $746 to $748 million, or growth of approximately 32%,” said CEO Aneel Bhusri. Earlier, the company had projected FY20 subscription revenue to be in the range of $3.030 billion to $3.045 billion.
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Workday opened its new 410,000-square-foot headquarters in Pleasanton on May 13. The new campus will include a 16,000-square-foot Workday Customer Center, which is scheduled to open this summer.
Shares of Workday have advanced 33% since the beginning of 2019 and 62% in the past 52 weeks.