Workday (NASDAQ:WDAY) earnings for the financial and human capital management software company’s fiscal third quarter of 2020 have WDAY stock down in after-hours trading. The company reported adjusted earnings per share of 53 cents. This is well above Wall Street’s estimate of 37 cents. Revenue of $938.10 million also beats out analysts’ estimates of $920.78 million.
Here’s what else went down in the most recent Workday earnings report.
- Adjusted per-share earnings are up 70.97% from 31 cents in fiscal Q3 2019.
- Revenue is 26.23% better than the $743.19 million reported during the same time last year.
- An operating loss of -$110.25 million is 39.68% narrower than the -$182.76 million from the same period of the year prior.
- The Workday earnings report also includes a net loss of -$115.73 million.
- That’s a 24.52% improvement over the company’s net loss of -$153.33 million in the fiscal third quarter of the previous year.
Robynne Sisco, co-President and Chief Financial Officer at Workday, has this to say about the WDAY stock earnings report.
“We executed well in the third quarter and delivered strong results, with subscription revenue growth of 28% and non-GAAP operating margin of 15%. We are well positioned as we enter our seasonally strongest quarter, and we are raising our fiscal 2020 subscription revenue outlook to $3.085 billion to $3.087 billion. We expect fourth-quarter subscription revenue of $828.0 million to $830.0 million. Our focus remains on driving durable growth, while also progressing towards our longer-term margin goals.”
WDAY stock was down 2.88% in after-hours trading Tuesday. The stock closed out the day up slightly.
As of this writing, William White did not hold a position in any of the aforementioned securities.