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

INTU Earnings: Intuit Q3 2024 revenue and adj. profit top expectations

Intuit Inc. (NASDAQ: INTU) Thursday reported an increase in adjusted earnings and revenues for the third quarter of 2024. The results also exceeded analysts' estimates. At $6.74 billion, the Mountain

After blowout quarter, Nvidia (NVDA) looks set to continue riding the AI wave

Shares of NVIDIA Corporation (NASDAQ: NVDA) rallied this week after the semiconductor giant reported robust first-quarter numbers. Being a first mover in artificial intelligence chips, the company is spearheading the

Target Corp. (TGT): A brief look at the retailer’s performance in Q1 2024

Shares of Target Corporation (NYSE: TGT) rose over 1% on Thursday. The stock has dropped over 11% in the past one month. The company delivered mixed results for the first

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