Categories Earnings, Technology

Workday tops Q1 earnings and revenue targets; stock advances

Human resource software provider Workday (Nasdaq: WDAY) surpassed first quarter fiscal 2020 earnings and revenue estimates. Non-GAAP earnings of $0.43 per share and revenue of $825 million beat analysts estimates of $0.41 profit per share and $813.9 million of revenue. Workday stock, which reached a new all-time high ($217.63) during today morning, was trading up about 3% in the after-market hours.

Workday (WDAY) Q1 2020 earnings results - revenue trend

GAAP net loss was $0.52 per share compared to a net loss of $0.35 per share in the first quarter of fiscal 2019. For the recently ended quarter, subscription revenue rose 30% year-over-year to $701 million. Revenue from Professional Services increased 29% to $124 million.

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.

Also read: Nutanix (NTNX) to report Q3 results on May 30

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.

We’re on Flipboard! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

MU Earnings: Micron’s Q4 profit declines but beats estimates

Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted

What are Philip Morris’ (PM) anticipations for the near term?

Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,

Key highlights from CarMax (KMX) Q2 2023 earnings results

CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,

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