Workday Shares Are Trading 12% Higher In Premarket Today: Here's Why
Portfolio Pulse from Benzinga Neuro
Workday Inc. (NASDAQ:WDAY) shares surged nearly 13% in pre-market trading due to impressive Q2 results and a positive long-term outlook. The company exceeded revenue and earnings estimates, reported strong subscription revenue growth, and projected continued growth in Q3.
August 23, 2024 | 10:46 am
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Workday's shares rose nearly 13% in pre-market trading following better-than-expected Q2 results. The company reported $2.08 billion in revenue and $1.75 EPS, both surpassing estimates. Strong subscription revenue growth and a positive outlook further boosted investor confidence.
The significant pre-market share price increase is directly linked to Workday's strong Q2 performance, exceeding both revenue and EPS estimates. The substantial growth in subscription revenue backlog and positive future projections further enhance investor sentiment, likely driving the stock price up in the short term.
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IMPORTANCE 90
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