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May 27, 2020, 4:32 p.m. EDT

Workday stock jumps on fiscal Q1 sales, Salesforce partnership

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By Claudia Assis

Shares of Workday Inc. /zigman2/quotes/201157610/composite WDAY +0.63% rose nearly 6% in the extended session Wednesday after the cloud-software company reported sales above Wall Street expectations and announced a partnership with Salesforce.com Inc. /zigman2/quotes/200515854/composite CRM +0.66% . Workday said it lost $158 million, or 68 cents a share, in the quarter, compared with a loss of $116 million, or 52 cents a share, in the year-ago quarter. Adjusted for one-time items, Workday earned 44 cents a share, compared with 43 cents a share a year ago. Revenue rose 23% to $1.02 billion. Analysts polled by FactSet had expected an adjusted profit of 49 cents a share on sales of $1 billion. "The cloud is playing a critical role in today's climate, with organizations leaning on Workday to pivot," Chief Executive Aneel Bhusri said in a statement. Workday said that while it was "well positioned" to weather the impact of the coronavirus pandemic, it was lowering its fiscal 2021 subscription revenue guidance to account for the near-term challenges with the pandemic. It said it expects fiscal 2021 subscription revenue in a range between $3.67 billion and $3.69 billion, and fiscal second-quarter subscription revenue between $913 million and $915 million. The partnership with Salesforce involves further integration of Workday and Salesforce's Work.com, a new suite of applications and resources to help business with their reopening, the company said. Shares of Workday had ended the regular trading day up 1.2%.

/zigman2/quotes/201157610/composite
US : U.S.: Nasdaq
$ 208.69
+1.30 +0.63%
Volume: 1.19M
Sept. 24, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$49.15 billion
Rev. per Employee
$269,447
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/zigman2/quotes/200515854/composite
US : U.S.: NYSE
$ 237.55
+1.56 +0.66%
Volume: 4.11M
Sept. 24, 2020 4:00p
P/E Ratio
93.07
Dividend Yield
N/A
Market Cap
$214.75 billion
Rev. per Employee
$379,486
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