Workday raises low end of FY23 subscription revenue to $5.555B-$5.557B

"We delivered another solid quarter, demonstrating how our cloud finance and HR solutions are vital for global organizations navigating today’s changing world," said Aneel Bhusri, co-founder, co-CEO, and chairman, Workday. "There is no question that the current macro environment presents increased uncertainty, but, due to the great work of our employees and our continued innovation, we are confident in the long-term opportunity and our ability to navigate the road ahead." "Our strong third-quarter results illustrate how global organizations are continuing to choose Workday as the backbone of their digital transformation in the face of constant change," said Chano Fernandez, co-CEO, Workday. "As we look ahead, we will continue to focus our efforts on industry investments and driving innovation with our open and connected partner ecosystem, which are critical to our customers’ success." "We delivered solid third-quarter results, a testament to strong execution across the company as well as the strategic and mission-critical nature of our solutions," said Barbara Larson, chief financial officer, Workday. "Our updated outlook reflects the ongoing momentum in our business and the power of our business model, while continuing to balance the current environment. We are raising the low end of our fiscal 2023 subscription revenue guidance to a range of $5.555 billion to $5.557 billion, or 22% growth. We are also raising our fiscal 2023 non-GAAP operating margin guidance to 19.2%, reflecting our commitment to delivering healthy growth and profitability."