Why Workday Stock Is Trading Higher During Monday's After-Hours Session

Shares of Workday Inc. WDAY rallied during Monday’s after hours session following the release of the company’s Q4 earnings beat.

Management highlighted a 21.6% year-over-year increase in total revenues to $1.38 billion with subscription revenues showcasing a similar 22.2% year-over-year increase to $1.23 billion. For the full fiscal year 2022, the company highlighted the following:

• Total revenues increased 19.0% to $5.14 billion
• Subscription revenues increased 20.0% to $4.55 billion
• Operating cash flows increased to $1.65 billion in comparison to $1.27 during the same period in 2021
• Declared cash and equivalents at $3.64 billion as of January 31, 2022

Workday chairman, co-Founder, and co-CEO Aneel Bhusri highlighted strength during the fourth quarter which saw “continued acceleration of our business, including a growing global workforce and a relentless focus on employees, customers, and innovation.” Notably, the CEO was positive on the “increasing demand for our broad suite of finance and HR solutions, as we help some of the world’s largest organizations navigate the changing world of work.”

Workday Inc. is a software company that offers human capital management (HCM), financial management, and business planning solutions.

At the time of publication, shares of Workday were trading 6.44% lower during after hours at $243.79. The stock had a 52-week low of $205.90 and a 52-week high of $307.81.