Workday Beats Q1 Earnings Estimates

May 28, 2023 By MarketDepth

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Workday Inc (WDAY:NASD) reported earnings that were above analyst expectations beating both top and bottom lines. The company is developing and utilizing AI technology to implement into their systems. With many economic challenges, the company saw increased demand in its human capital and financial management solutions.

The company announced $1.684 Billion in quarterly revenue up from $1.43 Billion in the previous year. With subscription services seeing the bulk of its revenue the company is poised for continued growth.

Workday is up almost 30% year-to-date on solid revenue numbers. The company is expected to grow at a rate of 18% annually.