Workday Q3 2024 Earnings Report
Key Takeaways
Workday announced strong fiscal 2024 third-quarter results, with total revenues of $1.87 billion, up 16.7% year-over-year, and subscription revenues of $1.69 billion, up 18.1% year-over-year. The company raised its fiscal 2024 subscription revenue guidance to $6.598 billion, representing 19% year-over-year growth, and its non-GAAP operating margin guidance to 23.8%.
Total revenues reached $1.87 billion, a 16.7% increase year-over-year.
Subscription revenues totaled $1.69 billion, reflecting an 18.1% increase year-over-year.
Operating income was $87.9 million, compared to an operating loss of $26.3 million in the same period last year.
12-month subscription revenue backlog was $6.05 billion, up 21.9% year-over-year.
Workday
Workday
Workday Revenue by Segment
Forward Guidance
Workday raised its fiscal 2024 subscription revenue guidance to $6.598 billion, representing 19% year-over-year growth. The company also raised its fiscal 2024 non-GAAP operating margin guidance to 23.8%.
Positive Outlook
- Raised fiscal 2024 subscription revenue guidance to $6.598 billion.
- Subscription revenue growth represents 19% year-over-year growth.
- Raised fiscal 2024 non-GAAP operating margin guidance to 23.8%.
- Focus on investing to drive durable long-term growth.
- Focus on expanding margins.
Revenue & Expenses
Visualization of income flow from segment revenue to net income