Workday Q1 Results Beat Street View

(RTTNews) - Cloud application provider Workday Inc. (WDAY), on Wednesday posted first-quarter net loss of $46.5 million or $0.19 per share, lower than net loss of $158.4 million or $0.68 per share in the year-ago quarter. Excluding certain items, the company reported a profit of $226.4 million or $0.87 per share, compared to $108.7 million or $0.44 per share in the same period last year. On average, 26 analysts polled by Thomson Reuters expected the company to report earnings of $0.73 per share in the quarter. Analysts' estimates, usually exclude, one-time items. Total revenues climbed 15.4 percent to $1.18 billion in the first quarter from 1.02 billion in the prior-year period. On average, 23 analysts expected the company to post revenues of $1.16 billion in the quarter.

Looking ahead, the company raised its fiscal 2022 guidance for subscription revenue to between $4.43 billion and $4.44 billion, a 17 percent growth. The company also expects a 18 percent growth in subscription revenue to between $1.095 billion to $1.097 billion in the second quarter.