Workday Stock Slides on Q2 Earnings: The Details
Workday Inc ( $Workday (WDAY.US)$ ) released its Q2 financial results, with revenue of $2.08 billion, slightly surpassing estimates of $2.07 billion. Adjusted earnings per share came in at $1.75, beating expectations of $1.65.
Key Highlights:
12-month subscription revenue backlog reached $6.8 billion, up 16.1% year-over-year.
Total subscription revenue backlog increased by 20.9% year-over-year to $21.58 billion.
Operating cash flow was $571 million, and free cash flow was $516 million.
Workday holds $7.37 billion in cash, cash equivalents, and marketable securities.
Workday's CEO, Carl Eschenbach, emphasized growth and operating margin expansion, attributing success to their AI-powered platform and expanding partner ecosystem. The company’s board also approved a new $1 billion share repurchase program.
Total subscription revenue backlog increased by 20.9% year-over-year to $21.58 billion.
Operating cash flow was $571 million, and free cash flow was $516 million.
Workday holds $7.37 billion in cash, cash equivalents, and marketable securities.
Workday's CEO, Carl Eschenbach, emphasized growth and operating margin expansion, attributing success to their AI-powered platform and expanding partner ecosystem. The company’s board also approved a new $1 billion share repurchase program.
Outlook: Workday forecasts Q3 subscription revenue at $1.955 billion, reflecting 16% growth, and full-year revenue between $7.7 billion and $7.725 billion.
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