Investing.com - Workday (NASDAQ:WDAY) reported on Monday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Workday announced earnings per share of 78 cents on revenue of $1.38 billion. Analysts polled by Investing.com anticipated EPS of 71 cents on revenue of $1.36 billion.
The company said it continues to see growing industry momentum within the financial services and retail industries.
"More than 70% of financial services companies in the Fortune 500 have selected Workday, and over 50% of the 2021 NRF Top 100 Retailers have selected Workday to manage and optimize their retail operations," they stated.
Workday shares gained 7.40% in after-hours trade following the report.
In addition, the company raised its guidance for fiscal 2023 subscription revenue to between $5.53 billion and $5.55 billion, representing year-over-year growth of 22%. It also increased its fiscal 2023 non-GAAP operating margin guidance to 18.5%.
"We closed out the year with another strong quarter that saw continued acceleration of our business, including a growing global workforce and a relentless focus on employees, customers, and innovation," said Aneel Bhusri, co-founder, co-CEO, and chairman of Workday.
"We continue to see increasing demand for our broad suite of finance and HR solutions, as we help some of the world's largest organizations – and more than 60 million users – navigate the changing world of work."