Stock Market Watch

Workday Post Better-Than-Expected Q2 Results (WDAY)

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Business software provider, Workday Inc. (NYSE: WDAY) reported late on Tuesday that fiscal second quarter loss widened; however, core loss (non-GAAP) was lower-than-expected. Revenue also topped Street’s expectation. The Company also provided optimistic revenue guidance for the fiscal third quarter.

For the latest period, the Pleasanton California based Company, which provides could-based enterprise software, reported a net loss of $36 million or 21 cents a share. In the year earlier quarter, Workday posted a net loss of $26.9 million or 78 cents a share.

On adjusted basis, the loss stood at 13 cents share. Revenue for the latest period jumped 72% to $107.6 million.

Analysts’ consensus estimate was for a loss of 18 cents a share on revenue of $100.6 million, according to a data compiled by Thomson Reuters.

For the third quarter, Workday expects revenue to be in the range of $115 million to $118 million while for revenue for the full fiscal year is expected in the range of $436 million to $446 million.

Analysts’ consensus estimate was for revenue of $115.3 million for the current quarter. For the full fiscal year, the Wall Street is anticipating revenue of $439.4 million.

Last week (Aug. 21), equity research analysts at BMO Capital Markets reaffirmed a “market-perform” rating on the stock and raised the price target to $70 from $60. A day before, Jefferies reiterated a “buy” rating on the stock.

 








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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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