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Apr 30, 2020
Workday Q1 2021 Earnings Report
Workday's Q1 2021 financial results were announced, revealing revenue growth and strategic adjustments amid the COVID-19 pandemic.
Key Takeaways
Workday reported a solid first quarter with total revenues of $1.02 billion, up 23.4% year-over-year, and subscription revenue of $882.0 million, up 25.8% year-over-year. The company is adjusting its fiscal 2021 subscription revenue guidance due to the near-term impact of COVID-19 while raising its non-GAAP operating margin guidance.
Total revenues reached $1.02 billion, a 23.4% increase year-over-year.
Subscription revenue was $882.0 million, reflecting a 25.8% increase year-over-year.
The company is reducing its fiscal 2021 subscription revenue guidance to account for the near-term impact from COVID-19.
Workday is raising its fiscal 2021 non-GAAP operating margin guidance to 16.0%.
Revenue by Segment
Forward Guidance
Workday expects second-quarter subscription revenue of $913.0 million to $915.0 million and fiscal 2021 subscription revenue in a range of $3.67 billion to $3.69 billion. The company is raising its fiscal 2021 non-GAAP operating margin guidance to 16.0%.
Positive Outlook
- The company expects second-quarter subscription revenue of $913.0 million to $915.0 million.
- Fiscal 2021 subscription revenue is projected to be in the range of $3.67 billion to $3.69 billion.
- The company is raising its fiscal 2021 non-GAAP operating margin guidance to 16.0%.
- Workday remains confident in the fundamental strength of its business model.
- The company plans to operate with agility while continuing to drive innovation to support sustainable, long-term growth.
Challenges Ahead
- The company is reducing its fiscal 2021 subscription revenue guidance to account for the near-term impact from COVID-19.
- Unspecified risks related to the ongoing COVID-19 pandemic on our business, as well as our customers, prospects, partners, and service providers
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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