Workday Inc. on reported its second-quarter results that surpassed analysts’ expectations.
The enterprise cloud-software company incurred a loss of $64.2 million, or 25 cents a share, compared with net income of $105.7 million, or 41 cents a share, in the year-ago period. Its adjusted earnings, which exclude stock-based compensation, income-tax costs and other operating expenses, came in at 83 cents a share, compared to analysts’ expectations of 79 cents (based on FactSet survey).
Revenue rose to $1.54 billion from $1.26 billion in the year-ago quarter.
Subscription revenue in the quarter came in at $1.37 billion, topping analysts’ forecast of $1.35 billion.
Chief financial officer Barbara Larson mentioned in the company’s news release that she predicts third-quarter subscription revenue of $1.418 billion to $1.42 billion, vs. analysts’ expectations of $1.415 billion.