Workday Inc

-7.82 (-3.64%)
Share Name Share Symbol Market Type
Workday Inc NASDAQ:WDAY NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -7.82 -3.64% 207.18 207.15 207.21 214.56 206.6274 213.21 800,657 16:26:19

Workday Swings to Slight 1Q Profit, Revenue Up 17%

25/05/2023 9:54pm

Dow Jones News

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By Paul Ziobro

Workday on Thursday said it swung to a slight first-quarter profit as double-digit revenue growth out paced rising costs.

The Pleasanton, Calif.-based developer of cloud software for human resource and finance professionals posted a profit of $136,000 or zero cents a share, compared with a loss of $102.2 million, or 41 cents a share, in the same period a year ago.

Stripping out stock-based compensation and other one-time items, the company said its profit was $1.31 a share, ahead of the $1.12 a share expected by analysts polled by FactSet.

Revenue rose 17.4% to $1.68 billion, ahead of analyst estimates for $1.67 billion.

Subscription revenue rose 20.1% to $1.53 billion, while its total subscription revenue backlog rose 31.6% to $16.65 billion.

Co-Chief Executive Aneel Bhusri said the results reflect the value proposition of its full Workday platform, as well as its use of artificial intelligence and machine learning that helps organizations improve productivity, become more informed and reduce business risk.

Write to Paul Ziobro at paul.ziobro@wsj.com


(END) Dow Jones Newswires

May 25, 2023 16:39 ET (20:39 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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