Workday (NASDAQ: WDAY) reported second-quarter financial results after the closing bell on Thursday. The software firm reported a 20% increase in Q2 revenues to $1.06 billion, beating Wall Street consensus. Subscription revenue was $931.7 million, an increase of 23.1% from the same period last year.
Net earnings of $0.84 per share also handsomely surpassed what analysts had anticipated.
WDAY shares rose 12% immediately following the announcement. The stock has increased 29% so far this year.
CEO Aneel Bhusri said, “It was a strong quarter despite the environment, with continued demand for our products as more organizations realize how mission-critical cloud-based systems are in supporting their people and businesses through continuous change.”