Workday Shares Fall Following Q1 Results

Shares of Workday Inc (NYSE: WDAY) dipped more than 4 percent in after-hours trading after the company reported results for the first quarter.The Pleasanton, California-based company posted a quarterly net loss of $61.6 million, or $0.33 per share, versus a year-ago loss of $59.4 million, or $0.32 per share. Its non-GAAP net loss came in at $0.02 per share, versus a non-GAAP net loss of $0.13 per share.Its total revenue climbed 57 percent year-over-year to $251.0 million. However, analysts were expecting a loss of $0.08 per share on revenue of $245 million.The average estimate among 22 Estimize users was for a loss of $0.07 per share and revenue of $246.67 million.Its subscription revenue gained 63 percent to $201.0 million.The company posted an operating loss of $53.4 million, versus an operating loss of $52.1 million.Operating cash flows totaled $94.1 million for the first quarter, while free cash flows totaled $63.9 million.As of April 30, 2015, the company had around $1.9 billion in cash, cash equivalents and marketable securities."We had a strong first quarter and welcomed a record number of new customers to the Workday community," said Aneel Bhusri, co-founder and CEO, Workday. "We delivered Workday Talent Insights, the first Workday Insight Application from our new product suite that's starting the next era of enterprise applications. We also announced the availability of Workday Professional Services Automation and Workday Payroll for the UK, continuing our focus on rapid innovation to help our customers grow their businesses."For the second quarter, the company expects total revenue of $270 and $274 million, versus analysts' estimates of $272.3 million.Workday shares slipped 4.63 percent to $88.21 in the after-hours trading session.