Workday's net profit soars to $1.2 billion with revenue up by 17%, exceeding analysts' expectations. The company's focus includes long-term growth and margin expansion.
4.9
Troy D. Hanson
February 26, 2024
Workday demonstrated strong financial performance in the latest quarter, attributing its success to ongoing customer acquisitions and global expansion endeavors.
Financial Highlights
Net Profit: Workday reported a fourth-quarter net profit of $1.2 billion, translating to $4.42 per share. This marks a significant turnaround from the loss of $126 million, or 49 cents per share, experienced during the same period in the previous year.
Earnings per Share: Adjusted earnings per share stood at $1.57, surpassing analysts' expectations of $1.47.
Revenue: The company's revenue surged by 17% to reach $1.92 billion, aligning with analysts' predictions. Notably, subscription revenue grew from $1.65 billion in the prior year to $1.76 billion, signaling an upward trajectory.
Future Outlook: Finance Chief Zane Rowe emphasized that Workday's strategic focus includes investing for long-term growth while prioritizing margin expansion as the business scales and optimizes its operations. The company reaffirmed its guidance for fiscal 2025.
Workday's positive results reflect a robust financial position and a commitment to sustained growth in the competitive cloud enterprise sector.
Leave Comment