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'It Was A Strong Quarter': Workday Trades Higher On Q2 Beat

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'It Was A Strong Quarter': Workday Trades Higher On Q2 Beat

Human resources software provider Workday Inc (NASDAQ: WDAY) reported second-quarter adjusted EPS of 44 cents on Thursday, beating a 35-cent Street estimate. 

Sales of $887.8 million beat an $872.31-million estimate. 

Workday is raising its fiscal 2020 subscription revenue outlook and is projecting subscription revenue of $3.06 to $3.07 billion for the year, CFO Robynne Sisco said in a statement. 

The company forecast third-quarter subscription revenue between $783-$785 million. 

“It was a strong quarter, with continued global customer momentum across the Fortune 500 and Global 2,000, as more organizations look to Workday for the ability to plan, execute, and analyze in one system powered by machine learning. In addition, we celebrated one year with Adaptive Insights and continue to make great progress on our integration vision,” co-founder and CEO Aneel Bhusri said in a statement. 

“As we move into the second half of the year, we are continuing to invest in areas that leverage our strengths and open new opportunities.”

Workday shares were trading higher by 1.2% at $189.90 at the time of publication in Thursday's after-hours session.

Related Links: 

Compass Point Says Salesforce A Core Holding For Investors, Bullish On Workday

The Street Debates Workday's Q1 Report

Photo courtesy of Workday. 

Posted-In: Earnings News Guidance Best of Benzinga

 

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