Workday Shares Slide After Q1 Results

About Workday Shares Slide After Q1 Results

Workday Inc. recently announced its first-quarter results, revealing earnings of $2.23 per share, surpassing the predicted $2.01. The company's revenue hit $2.24 billion, exceeding expectations of $2.22 billion. Subscription revenue saw a 13.4% increase over the previous year, reaching $2.059 billion, while the total subscription backlog grew by 19.1% to $24.62 billion. Despite these strong figures, the company's forecasted second-quarter revenue of $2.16 billion fell short of the projected $2.34 billion, causing shares to drop by 5.90% in after-hours trading. CEO Carl Eschenbach highlighted Workday's robust business performance and the rising demand for its comprehensive, AI-driven platform.