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Apr 30, 2022
Workday Q1 2023 Earnings Report
Workday's Q1 2023 results showcased revenue growth and strategic investments.
Key Takeaways
Workday announced a strong first quarter for fiscal year 2023, with total revenues of $1.43 billion, a 22.1% increase year-over-year, and subscription revenues of $1.27 billion, a 23.2% increase year-over-year. The company is raising its fiscal 2023 subscription revenue guidance and maintaining its non-GAAP operating margin guidance.
Total revenues reached $1.43 billion, up 22.1% year-over-year.
Subscription revenues totaled $1.27 billion, up 23.2% year-over-year.
The company is raising its fiscal 2023 subscription revenue guidance to $5.537 billion to $5.557 billion.
Workday intends to create 1,000 new jobs at its European headquarters in Dublin over the next two years.
Revenue by Segment
Forward Guidance
Workday is raising its fiscal 2023 subscription revenue guidance to be in the range of $5.537 billion to $5.557 billion, representing year-over-year growth of 22%. The company expects second quarter subscription revenue of $1.353 billion to $1.355 billion, representing year-over-year growth of 22%. They are maintaining their fiscal 2023 non-GAAP operating margin guidance of 18.5%.
Positive Outlook
- Fiscal 2023 subscription revenue is expected to be in the range of $5.537 billion to $5.557 billion, representing 22% year-over-year growth.
- Second quarter subscription revenue is projected to be $1.353 billion to $1.355 billion, representing 22% year-over-year growth.
- Fiscal 2023 non-GAAP operating margin guidance is maintained at 18.5%.
- Continued global momentum and a healthy deal pipeline position the company well to deliver a strong fiscal 2023.
- Focus remains on cultivating culture, driving innovation across finance and HR, and expanding value to organizations.
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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