Workday Up On Record Q2 Results, Solid Momentum & Win Rates

Shares of Workday Inc WDAY traded up more than 2.8 percent on Wednesday’s after-hours session, following the announcement of the company’s quarterly results. Over the second quarter, the firm registered a net loss of ($0.04) per share, $0.02 larger than the Street envisioned. Revenue of $377.7 million, up 33.6 percent year-over-year, came in more than $5 million above expectations.

But, not only earnings missed estimates. Third quarter guidance for sales of $398 million to $400 million also fell short of the Street’s consensus of $401.1 million.

Aneel Bhusri, co-founder and CEO said the company "delivered record second quarter results with solid customer momentum and strong competitive win rates.”

"The results were well balanced across our key initiatives as we saw consistent strength across product lines, industries, and geographies and we are proud to welcome our new largest customer based in the APJ region,” he added.

Workday’s stock closed on Wednesday trading down $0.30 or 0.38 percent, at $79.65.

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.