Why Workday Stock Is Rising After Hours

Workday Inc WDAY shares are trading higher in Thursday's after-hours session after the company reported second-quarter results that came in above analyst expectations.  

Workday said fiscal second-quarter revenue increased 21.9% year-over-year to $1.54 billion, which beat average analyst estimates of $1.52 billion, according to Benzinga Pro. The company reported subscription revenues of $1.37 billion, which was up 22.8% year-over-year. 

Workday reported quarterly earnings of 83 cents per share, which beat average analyst estimates of 81 cents per share.

"Our continued momentum is a testament to our strategy, which focuses on delivering significant value to our customers and helping them adapt and grow in today's dynamic environment," said Chano Fernandez, co-CEO of Workday.

Workday said it expects third-quarter subscription revenue to be between $1.418 billion and $1.42 billion. The company maintained full-year subscription revenue guidance between $5.537 billion and $5.557 billion. 

WDAY Price Action: Workday has a 52-week high of $272.49 and a 52-week low of $134.10.

The stock was up 11.2% in after hours at $180.50 at press time.

Photo: courtesy of Workday.