Working day (NASDAQ: WDAY) has got jump 10.5% to hours after its Q2 earnings, where nearly 20% revenue gains beat the topline’s expectations and lifted its subscription outlook for the current quarter.
Revenue rose 19.6% to $ 1.06B; of which subscription revenue increased by 23.1% to $ 931.7 million.
The company reduced its operating loss to $ 16.8M from a year ago loss of $ 122.5M. On a non-GAAP basis, operating income jumped to $ 257.7 million (24.3% of revenue) from $ 117.5 million a year ago.
And non-GAAP EPS nearly doubled, to $ 0.84 from $ 0.44 a year ago.
Subscription backlog gained 22.3% to $ 8.6B.
Liquidity was $ 2.75 billion as of July 31st. Operating cash flows amounted to $ 157.2 million compared to a previous year of $ 100.3 million.
The company also promoted its co-president, Chano Fernandez, to co-CEO alongside co-founder Aneel Bhusri. Robynne Sisco will be the sole president, and will remain the financial officer of the company.
“It was a strong quarter despite the environment, with continued demand for our products, as more organizations realized how mission-critical cloud-based systems are in supporting their people and businesses through continuous change,” says Bhusri.
It increases revenue support for full subscriptions to $ 3.73B- $ 3.74B; it expects Q3 subscription revenue of $ 948M- $ 950M. And it sees an operating margin for full year at 18%.
Press release
