Workday’s (WDAY) mixed earnings report late Tuesday could be the result of several factors ranging from seasonality issues and lower average deal sizes to increased competition from business software giant Oracle (ORCL), analysts say. Workday, the No. 1 provider of human capital management software, reported a per-share loss and revenue that beat analyst estimates, but its Q1 billings and Q2 revenue outlook were less than what Wall Street wanted
Workday hit on most cylinders last quarter, but its Q1 billings and its outlook for the current quarter left investors looking for more. Workday (WDAY) stock was down 7% in after-hours trading Tuesday, after the maker of cloud-based HR software posted fiscal Q1 earnings late Tuesday that handily beat analyst estimates but gave Q2 sales guidance that fell short of views. But it was likely Q1 billings of $271.6 million that flummoxed some investors,
Workday (WDAY) continues to find more growth in the cloud, but the HR software maker’s revenue outlook fell a bit short of expectations after Q1 earnings easily beat. The maker of cloud-based HR software late Tuesday reported fiscal Q1 earnings that showed it continues to outpace rivals Oracle (ORCL) and SAP (SAP) . But the company forecast revenue for the current quarter of $270 million to $274 million, up 45% to 47% from the year-ago period,