The shares of Workday Inc. WDAY experienced a nearly 13% surge in pre-market trading on Friday. This significant increase is attributed to the company’s impressive second-quarter results and an encouraging long-term outlook.
According to Benzinga Pro, at the time of writing, Workday was trading 12.51% higher at $259.99 after closing at $231.08 on Thursday.
Workday’s second-quarter revenue amounted to $2.08 billion, slightly exceeding the consensus estimate of $2.07 billion. The company’s adjusted earnings per share of $1.75 also surpassed analyst estimates of $1.65.
The software firm, known for its expertise in finance and human resources, concluded the quarter with a 12-month subscription revenue backlog of $6.8 billion, indicating a 16.1% increase year-over-year. The total subscription revenue backlog was reported at $21.58 billion, marking a 20.9% rise year-over-year.
Workday generated $571 million in operating cash flows and $516 million in free cash flow during the quarter. The company ended the quarter with a substantial $7.37 billion in cash, cash equivalents, and marketable securities.
Looking forward, Workday projects its third-quarter subscription revenue to be around $1.955 billion, which signifies a growth of 16%. The company’s full-year revenue is anticipated to be in the range of $7.7 billion to $7.725 billion.
Read Next:
Image by Coolcaesar via Wikimedia Commons
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
