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HomeBusinessWorkday Reports Q4 Beat, Provides Guidance

Workday Reports Q4 Beat, Provides Guidance

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Workday (NASDAQ:WDAY) reported its Q4 results on Monday, winning new large FINS customers, beating the Street on operating margins and margin guidance, and guiding to 21% year-over-year growth for Q1 24-month subscription revenue backlog, one point above consensus.
EPS came in at $0.99, better than the Street estimate of $0.89. Quarterly revenue increased 19.6% year-over-year to $1.65 billion, compared to the Street estimate of $1.63B.
The results support back-office resiliency and good execution by management in an uncertain macro. These positives were offset by a below-consensus Q1 and 2024 guidance on subscription revenue that may prove conservative and increasingly challenging new big deals that are consistent across software.
The company anticipates 2024 subscription revenue to be in the range of $6.525-$6.575 billion and a non-GAAP operating margin to be around 23%.

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