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Workday Swung to Profit in 3Q on Faster Subscription Revenue Growth

By Jeffrey T. Lewis

 

Workday Inc. swung to a profit in the third quarter of its fiscal year 2022 as subscription revenue growth accelerated in the period.

The Pleasanton, Ca.-based enterprise software provider posted net income of $43.4 million in the three months through Oct. 31 compared with a loss of $24.3 million in the same period a year earlier. Earnings per share swung to 17 cents from a loss of 10 cents and adjusted earnings per share reached $1.10.

The company reported total revenue of $1.33 billion for the third quarter, up from $1.11 billion a year earlier. Subscription revenue rose to $1.17 billion from $969 million.

Workday raised its fiscal 2022 guidance for subscription revenue to a range from $4.533 billion to $4.535 billion, with expected fourth-quarter subscription revenue of $1.216 billion to $1.218 billion.

 

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

 

(END) Dow Jones Newswires

November 18, 2021 16:36 ET (21:36 GMT)

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