5 Stocks That Delivered Upbeat Financial Results

3. Workday, Inc. (NASDAQ: WDAY)

Number of Hedge Fund Holders: 72

Shares of Workday, Inc. (NASDAQ: WDAY) have traded mostly higher since posting its second-quarter results above expectations. The company reported adjusted earnings of $1.23 per share for the three months ended July 31, up from 84 cents per share in the year-ago quarter.

Revenue came in at $1.26 billion, translating to a surge of 18.7 percent from the comparable period of 2020. The results exceeded analysts’ average estimate of 78 cents per share for earnings and $1.24 billion for revenue.

Subscription revenue in the quarter rose 19.5 percent to $1.11 billion, driving the overall quarterly sales. CEO Aneel Bhusri seemed impressed with the quarter, calling it “one of our strongest in company history.” Bhusri also said that:

“Our customer community has grown to more than 55 million users and more than half of the Fortune 500 have selected Workday. To meet this moment of great opportunity – where digital acceleration is at the forefront of global business leaders’ agendas – we continue to invest in our employees to help drive innovation and customer satisfaction. Looking ahead, I am optimistic about our future and our position in supporting the changing world of work.”

Looking forward, Workday, Inc. (NASDAQ: WDAY) raised its fiscal 2022 subscription revenue outlook to a range of $4.500 billion to $4.510 billion, above the consensus forecast of $4.45 billion. The updated guidance translates to year-over-year growth of around 19 percent.