Workday Slips despite Winning Earnings
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Workday Slips despite Winning Earnings

Shares of Workday (NASDAQ:WDAY) fell in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $1.00, which beat analysts’ consensus estimate of $0.89 per share. Sales increased by 19.6% year-over-year, with revenue hitting $1.65 billion. This beat analysts’ expectations of $1.63 billion.

Workday’s enterprise revenue jumped 18% against this time last year, reaching a total of $636.1 million. Subscription revenues backlog, meanwhile, hit $9.68 billion. That meant a jump of 21.3% year-over-year. Overall subscription revenues reached $1.5 billion, which was also a 21.7% jump compared to last year. Workday’s 24-month subscription revenue hit $9.68 billion, up 21.3%. Finally, Workday’s total subscription backlog hit a staggering $16.45 billion, up fully 28.4% in year-over-year comparisons.

Overall, Wall Street has a consensus price target of $208.09 on Workday, implying 12.52% upside potential, as indicated by the graphic above.



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