Shares opened for trading at $48.05, a jump of 72% above its $28 offering price. For the six months ended July 31, Workday had sales of $119.5 million, up 118% ($54.8 million) from the year-earlier period. Though revenue is growing exceptionally fast, losses are also growing. Losses in the same period widened to $1.40 share from $1.27.
Workday's shares closed the week at $48.69, a 74% gain over its IPO price.
AMD (AMD) fell after it reported weaker-than-expected revenue on Thursday, as the PC market continues to decline. AMD expects third-quarter revenue of approximately $1.27 billion, down 10% sequentially. AMD previously expected revenue to fall 1%, plus or minus 3%, sequentially. Analysts surveyed by Thomson Reuters were looking for sales of $1.38 billion. "The lower than anticipated preliminary revenue results are primarily due to weaker than expected demand across all product lines caused by the challenging macroeconomic environment," AMD said in a press release. AMD, which reports official results Oct. 18, fell 15% this week to close at $2.74.
Next week earnings season is in full swing, with reports from big names such as Amazon (AMZN), IBM (IBM), Google (GOOG), Microsoft (MSFT) and eBay (EBAY), which recently refreshed its Web site, making it cleaner and easier to navigate. Interested in more on eBay? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
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