Workday Stock Slides After Announcing Strong Q2 Earnings, Acquisition Of Paradox

Workday, Inc.  WDAY released its second-quarter results after Thursday's closing bell. Here's a look at the key figures from the quarter. 

WDAY is encountering selling pressure. See the story here.

The Details: Workday reported adjusted earnings of $2.21 per share, which beat the Street estimate of $2.12.

Quarterly revenue clocked in at $2.34 billion, which beat the $2.34 billion analyst estimate.

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Workday also announced it will acquire Paradox. The financial terms of the deal were not disclosed.

The company reported the following second-quarter highlights:

• 12-month subscription revenue backlog was $7.91 billion, up 16.4% from the same period last year. Total subscription revenue backlog was $25.37 billion, increasing 17.6% year-over-year.
• Operating cash flows were $616 million compared to $571 million in the same period last year. Free cash flows were $588 million compared to $516 million in the same period last year.
• Non-GAAP operating income for the second quarter was $680 million, or 29% of revenues, compared to a non-GAAP operating income of $518 million, or 24.9% of revenues, in the same period last year.

“Workday delivered another solid quarter, driven by our AI and platform innovation, international momentum, and an ecosystem that continues to grow alongside us,” said Carl Eschenbach, CEO of Workday.

“Customers are choosing Workday because we help them unlock value today and prepare for what’s next — whether that’s navigating AI transformation, streamlining operations or creating more meaningful work for their people,” Eschenbach added.

WDAY Stock Price: According to data from Benzinga Pro, Workday stock was down 6.35% at $213.13 in Thursday's extended trading. 

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