Workday Stock Slides On Q2 Earnings: The Details
Portfolio Pulse from Adam Eckert
Workday Inc (NASDAQ:WDAY) reported Q2 earnings with revenue of $2.08 billion and adjusted earnings of $1.75 per share, both beating estimates. The company has a strong subscription revenue backlog and announced a $1 billion share repurchase program. Despite positive results, shares fell 6.53% in after-hours trading.
August 22, 2024 | 8:53 pm
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Workday reported better-than-expected Q2 earnings and announced a $1 billion share repurchase program. Despite these positive results, the stock fell 6.53% in after-hours trading.
Workday's Q2 earnings exceeded expectations, and the company announced a significant share repurchase program, which are typically positive signals. However, the stock's 6.53% decline in after-hours trading suggests that investors may have had higher expectations or concerns about future growth, leading to a negative short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100