Workday (WDAY) Tops Q2 EPS by 18c, Offers Q3 and FY Guidance

(Updated - August 27, 2020 4:03 PM EDT)

Workday (NASDAQ: WDAY) reported Q2 EPS of $0.84, $0.18 better than the analyst estimate of $0.66. Revenue for the quarter came in at $1.06 billion versus the consensus estimate of $1.04 billion.

• Workday announced Chano Fernandez has been promoted to co-CEO, joining Workday Co-Founder Aneel Bhusri in overseeing the company. Robynne Sisco will serve as Workday’s president and chief financial officer.

Guidance:

“We executed extremely well in the second quarter and delivered solid results, with subscription revenue growth of 23.1% and non-GAAP operating margin of 24.3%,” said Robynne Sisco, president and chief financial officer, Workday. “As a result of our strong Q2 performance, we are raising our fiscal 2021 subscription revenue guidance to a range of $3.73 billion to $3.74 billion. We expect third-quarter subscription revenue of $948.0 million to $950.0 million. We are also raising our fiscal 2021 non-GAAP operating margin guidance to 18.0%. Despite the near-term uncertainty that remains, our first-half performance has reinforced our confidence in the fundamental strength of our business, and in the long-term opportunity that we see ahead.”

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

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