5 Stocks Moving on Quarterly Reports

2. Workday, Inc. (NASDAQ:WDAY)

Number of Hedge Fund Holders: 87

Shares of Workday, Inc. (NASDAQ:WDAY) plummeted to a nearly two-year low in the pre-market trading session on Friday, May 27, 2022, after missing profit expectations for its fiscal first quarter.

Workday, Inc. (NASDAQ:WDAY) reported adjusted earnings of 83 cents per share, down from 87 cents per share in the same period last year. The numbers were below analysts’ average estimate of 86 cents per share.

Follow Workday Inc. (NYSE:WDAY)

In addition, Workday, Inc. (NASDAQ:WDAY) posted revenue of $1.43 billion, up 22.1 percent on a year-over-year basis and in line with the expectations. Subscription revenue jumped 23 percent to $1.27 billion and represented nearly 89 percent of the total sales.

Looking forward, Workday, Inc. (NASDAQ:WDAY) now expects subscription revenue in the range of $5.54 – $5.56 billion for its fiscal 2023, compared to its earlier projection of $5.53 – $5.55 billion.