Workday Stock Dips After Q4 Earnings
Date
2/28/2024 10:13:44 AM
(MENAFN- Baystreet)
Mental health Treatments Demand Jumps, Hims & Hers Slouches
Unity Stock Suffers Post-Earnings Decline
Virgin Galactic Soars Post
earnings PAR Fades on Q4 Numbers
Zoom Video's Stock Jumps 13% On Strong Earnings Previous Articles Subscribe to Get Small Cap News & Alerts
Ambrose O'Callagha - Wednesday, February 28, 2024
Workday Stock Dips After Q4 Earnings Workday (NASDAQ:WDAY) is a California-based company that provides enterprise cloud applications in the United States and around the world. Shares of Workday were down 1.96% in mid-morning trading on Tuesday, February 27. Meanwhile, the stock was still up 12% so far in 2024. The stock has encountered some turbulence after unveiling its most recent earnings report.
This company released its fourth quarter (Q4) and full-year fiscal 2024 earnings on February 26, 2024. In Q4 2023, total revenues rose 17% year-over-year to $1.9 billion. Meanwhile, subscription revenues increased 18% from the prior year to $1.8 billion. Operating income was reported at $79 million, which represented 4.1% of total revenues. That was compared with an operating loss of $89 million or negative 5.4% of revenues in the fourth quarter of fiscal 2023.
Diluted net income per share was reported at $4.42 in Q4 FY2024. That was up significantly from diluted net income per share of $0.49 in the previous year.
For the full year, total revenues reached $7.3 billion – up 17% compared to fiscal 2023. Moreover, subscription revenues jumped 19% to $6.6 billion. Operating income was reported at $183 million, which represented 2.5% of revenues. Meanwhile, Workday's total subscription revenue backlog was $20.9 billion – up 27% compared to the same period in fiscal 2023. The 24-month subscription revenue backlog reached $11.7 billion – up 20% year over year.
Shares of Workday are still trading in favourable value territory compared to its industry peers. Meanwhile, its earnings are geared up for strong growth going forward.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN28022024000212011056ID1107911970
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.