Workday Inc. WDAY,
shares rose more than 12% to a new record in trading after hours Thursday after a well-deserved beat, expected increase and announcement of a new co-CEO. Workday reported a second-quarter net loss of $ 28 million, or 12 cents per share, on sales of $ 1.06 billion, up from $ 888 million a year ago. After adjusting for compensation based on shares and other factors, the cloud software company for human resources reported earnings of 84 cents a share, up from 44 cents a share in the same quarter last year. “As a result of our strong Q2 performance, we are increasing our fiscal 2021 instructional guidance for subscriptions to a range of $ 3.73 billion to $ 3.74 billion,” Chief Financial Officer Robynne Sisco said in Thursday’s news release. Workday announced separately that Chano Fernandez was promoted to co-CEO to combine with Aneel Bhusri, who since the former co-CEO, co-founder David Duffield, has worked day-to-day operations to become chairman. Fernandez was previously co-president with Sisco, who will be the only president and chief financial officer to advance. Workday shares closed with a gain of 1.4% at $ 216.63 Thursday, then shot above $ 240 in trades hours after the report was released; The all-time full-time working day is $ 224.30, set for July 2019.
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