Workday shares rocket higher after it beats revenue targets
Aug 25, 2016, 04:39 IST
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Workday's stock initially traded down after the announcement, but then reversed course as the company held its conference call with analysts.
Revenue in the fiscal second quarter increased 34% year-over-year to $377.7 million, ahead of the average analyst expectation of $372.7 million.
On the other hand, the company posted a quarterly loss, excluding certain items, of 4 cents per share, which was worse than the 2 cent loss expected by Wall Street.