Following the bell, Workday reported the results of the first quarter of its fiscal 2016. The company lost $0.02 per share during the period, using adjusted metrics, on revenue of $251.0 million. Investors had expected the company to lose an adjusted $0.08 per share on revenue of $245.0 million. In its sequentially preceding quarter, Workday had top line of $226.3 million.
The company, up a fraction during regular trading in a down market, is down a sharp 5 percent after reporting its financial performance.
On a year-over-year basis, Workday’s revenue grew 57 percent. The company had profit, employing normal accounting methods (GAAP), of negative $61.56 million during the quarter. That works out to a loss of $0.33 per share. On an adjusted basis (non-GAAP), Workday had a fatter operating profit of negative $2.1 million.
Why the company’s shares shed 5 percent of their value following an earnings beat isn’t immediately clear. The…
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