Workday (WDAY) reported earnings on Thur 19 Nov 2020 (a/h)

 ** charts after earnings **

 

Workday beats by $0.19, beats on revs, raises FY21 subscription revenue guidance

Reports Q3 (Oct) earnings of $0.86 per share, $0.19 better than the S&P Capital IQ Consensus of $0.67; revenues rose 18.3% year/year to $1.11 bln vs the $1.09 bln S&P Capital IQ Consensus.

Reports subscription revenue backlog of $8.87 bln, up 23.4% yr/yr.

Outlook: "Based on our strong third quarter, we are raising our fiscal 2021 subscription revenue guidance to a range of $3.773-$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."

Co commented during its call that it expects remaining headwinds due to COVID to be more fully evident in next year's subscription revs, weighing on co's growth in the near term.