Workday (WDAY) Tops Q1 EPS by 13c, Comments on Outlook
Workday (NYSE: WDAY) reported Q1 EPS of $0.29, $0.13 better than the analyst estimate of $0.16. Revenue for the quarter came in at $479.9 million versus the consensus estimate of $467.33 million.
"Our fiscal 2018 got off to a great start as we delivered strong top-line growth, and record non-GAAP operating profit and operating cash flow," said Robynne Sisco, chief financial officer, Workday. "Based on our strong first quarter results, we are raising our fiscal 2018 outlook and are now expecting subscription revenue of $1.705 to $1.720 billion, or growth of 32% to 33%. We expect our second quarter subscription revenue to be between $420 and $423 million, or growth of 37% to 38%. Our business model clearly demonstrates strong economics and as we continue to scale, we are confident in our ability to deliver strong future operating margin and cash flow growth."
(Street sees Q2 revenue of $491.3 million and FY revenue of $2.02 billion)
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