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Top Analyst Upgrades and Downgrades: Amazon, Barrick Gold, Boston Scientific, Chipotle, Gap, Gilead, Goldcorp, Workday and Many More
Workday tops estimates on higher subscriber additions
Workday Inc(WDAY) on Wednesday reported better-than-expected quarterly profit and revenue as more companies opted for its cloud-based finance and human resources software, prompting it to raise its full-year sales outlook for the third time. The company said it now expects fiscal 2018 subscription revenue of at least $1.78 billion, up from a range of $1.75 billion to $1.76 billion estimated previously.
Workday stock rises after earnings
Workday Inc. shares rose in late trading Wednesday after the cloud-software company reported stronger earnings and sales than expected. Workday reported a third-quarter loss of $85.5 million, or 41 cents a share, on sales of $555.4 million, up from $413.5 million a year ago. After adjustments for stock-based compensation and other effects, the company claimed a profit of 24 cents a share, up from adjusted earnings of 5 cents a share in the same period last year. Analysts on average expected adjusted earnings of 15 cents a share on revenue of $541 million, according to FactSet. Workday stock gained more than 2% in after-hours action following the report, nearing $109 after closing with a 7.2% decline at $106.54 amid a large selloff in tech stocks.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Zendesk Adds Workday Executive Mike Frandsen To Board Of Directors
* ZENDESK ADDS WORKDAY EXECUTIVE MIKE FRANDSEN TO BOARD OF
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