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Workday Earnings: WDAY Stock Soars on Strong Q3 Subscription Revenue

Workday earnings (NASDAQ:WDAY) were soaring late in the day as the company reported its latest quarterly earnings results, which included a surge in its subscription revenue and earnings that shattered Wall Street’s expectations

Workday earningsThe Pleasanton, Calif.-based company said that for its third quarter of its fiscal 2018, it brought in a net loss of $153.3 million, or 70 cents per share. The figure was wider than its loss from the year-ago quarter of $85.5 million, or 34 cents per share.

Workday’s adjusted earnings came in at 31 cents per share, which came in ahead of the 14 cents per share in adjusted profit that the Wall Street consensus estimate called for. The company added that its revenue for the period reached $743.2 million, a 33% gain compared to its year-ago quarter.

Analysts said they were calling for the company to bring in sales of $723 million for the period. Workday added that its subscription revenue for its third quarter of the fiscal year reached $624.4 million, marking a surge of 34.7% compared to its year-ago quarter.

WDAY stock is soaring more than 9.7% after the bell on Thursday as the company reported its latest quarterly earnings results, which came in well ahead of what analysts were calling for in their consensus estimate. Shares had been sliding close to 0.4% during regular trading hours as the company geared up to report on its latest quarter.

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