Workday Q3 Results Exceed Estimates, Q4 Outlook Issued: Shares Trading Up After Hours
Portfolio Pulse from Ryan Gustafson
Workday Inc. (NASDAQ:WDAY) reported Q3 earnings of $1.56 per share, surpassing estimates of $1.41 per share. Revenue reached $1.87 billion, exceeding expectations of $1.848 billion and marking a 16.7% year-over-year increase. Subscription revenues grew by 18.1% to $1.69 billion. The company's cash position was strong at $6.88 billion. Workday provided Q4 guidance with expected subscription revenue of $6.598 billion and adjusted operating margins of 23.8%. Co-CEO Carl Eschenbach highlighted the company's momentum, AI innovation, and customer growth. After the announcement, WDAY shares rose 3.56% in after-hours trading.
November 28, 2023 | 9:41 pm
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Workday Inc. reported strong Q3 results with earnings and revenue exceeding estimates, and provided a positive Q4 outlook. Shares increased in after-hours trading.
The positive earnings report and revenue growth, along with a strong Q4 outlook, are likely to instill investor confidence and could lead to a short-term increase in stock price. The after-hours trading activity already reflects a positive investor response.
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