Workday Q2 2024 Earnings Report
Key Takeaways
Workday announced strong financial results for the second quarter of fiscal year 2024. Total revenues reached $1.79 billion, a 16.3% increase year-over-year, with subscription revenues growing by 18.8% to $1.62 billion. The company raised its fiscal 2024 subscription revenue guidance to a range of $6.570 billion to $6.590 billion, representing 18% year-over-year growth.
Total revenues were $1.79 billion, up 16.3% year-over-year.
Subscription revenues were $1.62 billion, up 18.8% year-over-year.
Operating income was $36.3 million, compared to an operating loss of $34.1 million in the same period last year.
Basic and diluted net income per share was $0.30, compared to a net loss per share of $0.25 in the second quarter of fiscal 2023.
Workday
Workday
Workday Revenue by Segment
Forward Guidance
Workday raised its fiscal 2024 subscription revenue guidance to a range of $6.570 billion to $6.590 billion, representing 18% year-over-year growth. The company expects third-quarter subscription revenue to be $1.678 billion to $1.680 billion, or 17% growth. In addition, Workday is raising its fiscal 2024 non-GAAP operating margin guidance to 23.5%.
Positive Outlook
- Fiscal 2024 subscription revenue guidance raised to $6.570B - $6.590B, representing 18% year-over-year growth.
- Third-quarter subscription revenue expected to be $1.678B - $1.680B, or 17% growth.
- Fiscal 2024 non-GAAP operating margin guidance raised to 23.5%.
- Maintaining a disciplined approach of investing in long-term growth.
- Expanding margins.
Revenue & Expenses
Visualization of income flow from segment revenue to net income