Workday Shares Drop 5% Following Disappointing Q1 Earnings 
<p><a href='https://financialmodelingprep.com/financial-summary/WDAY'>Workday, Inc. (NASDAQ:WDAY) </a>shares dropped more than 5% on Friday following the company’s reported disappointing Q1 results that missed on 24-month Subscription backlog.</p>
<p>EPS came in at $0.83, worse than the Street estimate of $0.86. Revenue was $1.43 billion, in-line with the Street expectations.</p>
<p>The backlog miss was attributed to several large deals pushing out of Q1, with management seeing no commonality across customer segment, product, or rationale for the delays. </p>
<p>The company expects Q2/23 revenue in the range of $5.537-5.557 billion, compared to the Street estimate of $6.2 billion. Full 2023-year revenue is expected to be in the range of $1.353-1.355 billion, compared to the Street estimate of $1.51 billion.</p>

NASDAQ:WDAY