Workday, Inc. (NASDAQ:WDAY) reported its first-quarter financial results after the bell Thursday. Here’s a look at the details.Â
The Details: Workday reported quarterly earnings of $1.74 per share which beat the analyst consensus estimate of $1.58 by 10.13%.
Quarterly sales came in at $1.99 billion which beat the analyst consensus estimate of $1.973 billion and represents an 18.17% increase over sales of $1.684 billion from the same period last year.
Workday also announced the Defense Intelligence Agency (DIA) selected Workday Government Cloud to accelerate its human resources modernization efforts, marking Workday’s formal entry into the U.S. intelligence community and its growth in the U.S. federal government market.
“Q1 was another solid quarter of revenue growth and non-GAAP operating margin expansion for Workday, as we drive toward long-term, durable growth,” said Workday CEO Carl Eschenbach.
“With the emergence of Generative AI, the shifting talent landscape, and pressure to realize operational efficiencies, Workday has never been more relevant. Our strong value proposition, investments in key growth initiatives, and leadership in AI are paying off as more organizations turn to Workday to manage their two most important assets — their people and money.”
Outlook:Â Workday lowered its forward guidance and now sees second-quarter subscription revenue of $1.895 billion and fiscal-year subscription revenue of between $7.7 billion and $7.725 billion.
WDAY Price Action: According to Benzinga Pro, Workday shares are down 9.16% after-hours at $237 at the time of publication Thursday.
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