Workday reported solid quarterly results, maintaining its upbeat subscription growth outlook aided by AI, and announced a $1 billion share buyback.
Workday (NASDAQ:WDAY) shares were up 12.5% in Friday’s deals driven by last night’s upbeat financial results.
Revenue for the second quarter reached $2.09 billion, which was slightly above the forecasted $2.08 billion – with subscription services revenue of $1.9 billion contributing most of that total.
Earnings (adjusted) per share similarly beat expectations at $1.75 versus $1.66.
Looking ahead, Workday stuck to a positive full-year forecast for subscription revenue, seen between $7.7 billion to $7.73 billion.
Rewarding shareholders it also announced a $1 billion share buyback plan.
In terms of narrative, Workday highlighted its use of artificial intelligence as part of its strategy to drive long-term growth and profitability.
In New York, Workday shares were up $28.99 or 12.55% at $260.08.
