Workday, a manufacturer of financial and HR software, announced better-than-expected quarterly results on Tuesday.
During prolonged trade, the shares increased by over 10%.
The business performed as follows in relation to the LSEG consensus:
Adjusted earnings per share: $1.92 compared to $1.78 anticipated
Revenue: $2.21 billion as opposed to the projected $2.18 billion
Revenue climbed 15% year over year in the quarter that concluded on January 31. From $1.19 billion, or $4.52 per share, in the same quarter last year, net income dropped to $94 million, or 35 cents per share.
“The valuation allowance related to U.S. federal and state deferred tax assets was released in the amount of $1.1 billion during the prior year period,” Workday stated.
Artificial intelligence products are becoming more and more in demand.
Source (CNBC)
