Workday Shares Surge 17% Following Better Than Expected Q3 Results
<p><a href='https://financialmodelingprep.com/financial-summary/WDAY'>Workday (NASDAQ:WDAY)</a> shares soared more than 17% yesterday following the company’s reported Q3 results, with EPS of $0.99 coming in better than the Street estimate of $0.84. Revenue was $1.6 billion, compared to the Street estimate of $1.58 billion.</p>
<p>According to the analysts at Oppenheimer, the results support the business resiliency and consistently good execution in a tough macro environment. The Q3 results and above consensus 2024 operating margin outlook lend good support to durable growth with improving margin and cash flow acceleration story.</p>
<p>The company raised its 2023 subscription revenue guidance to a range of $5.555-$5.557 billion, as well as raised its 2023 non-GAAP operating margin guidance to 19.2%.</p>
<p>The company’s Board of Directors also authorized a new $500 million share repurchase program of its Class A common stock.</p>

NASDAQ:WDAY