Workday (WDAY) Tops Q3 EPS by 17c, Updates FY Guidance
Workday (NASDAQ: WDAY) reported Q3 EPS of $0.31, $0.17 better than the analyst estimate of $0.14. Revenue for the quarter came in at $743.2 million versus the consensus estimate of $723 million.
GUIDANCE:
Workday sees FY2019 subscription revenue of $2.375-2.377 billion.
"We had a great third quarter and continue to see significant momentum across our suite of products," said Aneel Bhusri, co-founder and CEO, Workday. "We extended our market leadership in HCM, welcoming more Fortune 500 customers to the Workday community, and accelerated adoption of Workday Financial Management as more finance organizations move to the cloud. As we look to the remainder of fiscal 2019, we are confident that our commitment to customer satisfaction and product innovation, coupled with our strong company culture, will continue to deliver meaningful growth and customer success."
"We’re pleased with our strong performance in Q3, which resulted in accelerated growth across our core business metrics and gives us great momentum heading into year-end," said Robynne Sisco, co-president and chief financial officer, Workday. "The strength in our business is allowing us to raise our fiscal 2019 outlook and we now expect subscription revenue of $2.375 to $2.377 billion, or growth of 33%. We continue to prioritize investing in long-term growth initiatives, while delivering solid operating and cash flow margins over time."
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