Workday Shares Drop 11% After Weak Q4 Forecast, Eyes U.S. Government Expansion For Future Growth.

Benzinga

Workday shares dropped 11% in after-hours trading Tuesday after issuing a weaker-than-expected Q4 forecast. The human resources and finance software maker exceeded analyst expectations for earnings per share and revenue in the third quarter. Workday's projected operating margin and subscription revenue fell slightly below analysts' expectations. The company highlighted challenges in certain global markets but expressed optimism about U.S. government opportunities. Workday shares are down 2% year-to-date, lagging the S&P 500’s 26% gain.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Workday shares dropped 11% in after-hours trading Tuesday

00:05after issuing a weaker-than-expected Q4 forecast.

00:08The human resources and finance software maker exceeded analysts' expectations

00:13for earnings per share in revenue in the third quarter.

00:16Workday's projected operating margin and subscription revenue

00:19fell slightly below analysts' expectations.

00:22The company highlighted challenges in certain global markets

00:25but expressed optimism about U.S. government opportunities.

00:28Workday's shares are down 2% year-to-date, lagging the S&P 500's 26% gain.

00:34For all things money, visit Benzinga.com slash GSTV.

Category

Transcript

Comments

Recommended