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Investing.com – Workday (NASDAQ:WDAY) raised its fourth-quarter subscription guidance after the enterprise cloud company reported Thursday third-quarter results that topped expectations.
Workday shares gained 4.02% in after-hours trade following the report.
“Based on our strong third quarter, we are raising our fiscal 2021 subscription revenue guidance to a range of $3.773 billion to $3.775 billion. As we enter Q4, we are increasing our pace of investments to capitalize on the long-term opportunity that we see ahead,” the company said.
Workday announced earnings per share of $0.86 on revenue of $1.11 billion. Analysts polled by Investing.com anticipated EPS of $0.67 on revenue of $1.09 billion.
Subscription revenue was $968.5 million, an increase of 21.3% from the same period last year.
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