a work day (day) reported third-quarter earnings and revenue that beat estimates but channeling subscription revenue just increased Wall Street’s targets. WDAY’s stock fell Friday as the company announced its acquisition.
Workday said it has agreed to buy software maker Vndly for $510 million in cash.
Workday in Pleasanton, California reported results for the period ending October 30 after the market closed Thursday. Workday earnings were $1.10 per share, up 28% from the same period last year. Revenue increased 20% to $1.33 billion, including acquisitions.
Subscription revenue rose 21% to $1.17 billion, beating estimates of $1.16 billion.
A year ago, business day earnings were 86 cents per share on sales of $1.11 billion. Analysts expected Workday’s earnings of 87 cents a share on revenue of $1.31 billion.
« We think the revenue performance for the quarter was good, but it wasn’t great, » BMO Capital Markets analyst Keith Bachman said in a report. “WDAY guided total revenue for the January quarter at about 0.5% above consensus. For fiscal year 2023, WDAY provided preliminary guidance for 20% subscription revenue growth, which we believe will be a disappointment for investors.”
The company sells human capital management software, such as payroll tools. It has expanded into financial software.
WDAY Inventory: Guidance Edges with Estimates
For the current quarter ending in January, the software maker expects subscription revenue of $1.217 billion in the middle of its guidance versus analyst estimates of $1.207 billion.
Labor Day stock fell 4.2% to close at 286.60 days stock market today.
Heading into the business day earnings report, WDAY stock traded above the buy zone with extension entry point from 282.87. Labor Day Inventory gained about 24% in 2021.
Shares owned for business days a Rated relative strength From 85 out of a possible 99, according to IBD stock check.
If you are new to IBD, consider taking a look at stock trading system And CAN SLIM Basics. Distinguish chart patterns It is one key to investment guidance.
IBD offers a wide range of Stock Growth Lists, Such as leaderboard. Investors can also create watch lists, find companies near a profile buy point, or develop custom screens in IBD Market Smith.
Follow Reinhardt Krause on Twitter Tweet embed For updates on 5G wireless networks, artificial intelligence, cyber security and cloud computing.
Chip maker Nvidia beats third-quarter targets with strong data center sales
Enphase Energy CEO says you should stop doing stupid things
How IBD simplifies the search for the best stocks
Find compelling growth stocks with today’s IBD stock
What stocks are breaking out or near a pivot point? Check out MarketSmith
« Spécialiste de la télévision sans vergogne. Pionnier des zombies inconditionnels. Résolveur de problèmes d’une humilité exaspérante. »
Amazon licencie 9 000 travailleurs supplémentaires dans le monde
AIB fixe des objectifs de réduction de carbone pour 43,5 milliards d’euros de prêts
Virgin Orbit envisage la faillite au milieu des pourparlers de sauvetage avec les investisseurs | Actualité économique