Workday shares surged up to 14% in extended trading Thursday after the company reported stronger than expected results and raised its full-year margin forecast.
For the fiscal first quarter ending April 30, Workday posted adjusted earnings of $2.66 per share, beating expectations of $2.51, and revenue of $2.54 billion, slightly above the estimated $2.52 billion.
Revenue grew 13% year-over-year, with net income increasing to $222 million (87 cents per share) from $68 million (25 cents per share) a year earlier.
For the upcoming quarter, Workday projected a 30% adjusted operating margin and $2.46 billion in subscription revenue, aligning closely with analyst estimates of $2.45 billion.
Source (CNBC)
