Workday (WDAY) Tops Q2 EPS by 9c, Beats on Revenues; Boosts FY18 Outlook

Workday (NYSE: WDAY) reported Q2 EPS of $0.24, $0.09 better than the analyst estimate of $0.15. Revenue for the quarter came in at $525.3 million versus the consensus estimate of $507.4 million.

GUIDANCE:

Workday sees Q3 2018 revenue of $1.75-1.757 million, versus the consensus of $2.05 million.

• Total revenues were $525.3 million, an increase of 40.6% from the second quarter of fiscal 2017. Subscription revenues were $434.5 million, an increase of 42.0% from the same period last year.
• Operating loss was $81.6 million, or negative 15.5% of revenues, compared to an operating loss of $86.7 million, or negative 23.2% of revenues, in the same period last year. Non-GAAP operating profit for the second quarter was $49.0 million, or 9.3% of revenues, compared to a non-GAAP operating profit of $6.1 million, or 1.6% of revenues, in the same period last year.(1)
• Net loss per basic and diluted share was $0.40, compared to a net loss per basic and diluted share of $0.55 in the second quarter of fiscal 2017. Non-GAAP net income per diluted share was $0.24, compared to a non-GAAP net loss per basic and diluted share of $0.04 in the same period last year.(1)
• Operating cash flows for the second quarter were $15.1 million and free cash flows were negative $23.4 million. For the trailing twelve months, operating cash flows were $376.4 million and free cash flows were $247.5 million.(2)
• Cash, cash equivalents and marketable securities were $2.1 billion as of July 31, 2017. Unearned revenues were $1.2 billion, a 26.2% increase from the same period last year.

For earnings history and earnings-related data on Workday (WDAY) click here.

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