Workday Beats Estimates, But Street Not Impressed

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On a light earnings afternoon, there were few earnings highly anticipated by the street. The exception to this was Workday Inc WDAY, which reported Q1 results.

The cloud application company reported non-GAAP EPS of $0.05, a $0.07 beat over the street's $(0.02) estimate. Revenues also beat the street's consensus at $345.4 million over $338.6 million.

CFO Robynne Sisco had this to say about their recent quarter, and future projections: "We generated record quarterly revenues as well as strong billings growth and trailing twelve month operating cash flows. Looking ahead, we anticipate second quarter total revenues to be within a range of $371 to $373 million or growth of 31% to 32% as compared to the prior year."

Despite the top and bottom line beats, the Street didn't like the report. Shares of Workday were trading down 2.5 percent in the after-hours session at $73.95.

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Posted In: EarningsGuidanceManagementAfter-Hours CenterMovers
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