Workday reported its quarterly earnings that missed analysts’ expectations.
The software company’s earnings for the quarter came in at $0.83 per share, falling short of analysts’ consensus estimates of $0.85.
Revenue rose +22.1% from the year-ago quarter to $1.43 billion during the quarter, vs. consensus estimate of $1.43 billion.
Looking ahead, Workday projected an adjusted operating margin of 17.5% on revenue of $1.517 billion to $1.519 billion for its fiscal second quarter of 2023. For the full fiscal year 2023, the company is expecting revenue of $6.187 billion to $6.2 billion.
Workday’s outlook for subscription revenue is $1.353 billion to $1.355 billion in its second quarter and $4.537 billion to $5.557 billion for the full year, thereby implying + 22% year-over-year growth for both.