NEW YORK (TheStreet) -- Workday (WDAY) - Get Report stock is down 0.53% to $60.13 in after-hours trading on Monday after the software company issued lower-than-expected fiscal 2017 first quarter revenue guidance.
The Pleasanton, CA-based company provides enterprise cloud applications for financial and human resources departments.
The company set its fiscal 2017 first quarter revenue outlook at $337 million to $339 million, below estimates of $343.31 million.
Additionally, Workday reported financial results that exceeded expectations for the fiscal 2016 fourth quarter after today's market close.
The company posted a loss of 1 cent per share on $323.43 million in revenue for the quarter ended January 31. Wall Street was anticipating a loss of 5 cents per share on revenue of $319.63 million.
"We ended FY16 on a high note with a very strong fourth quarter across product lines and around the world," CEO Aneel Bhusri said in a statement. "Demand for our Financial Management and HCM products continues to rise, as do our competitive win rates."
Revenue increased 43% year-over-year as subscription revenue grew 44% to $261.8 million.
Separately, Workday has a "sell" rating and a letter grade of D at TheStreet Ratings because of the company's deteriorating net income, disappointing return on equity, generally disappointing stock performance and feeble earnings per share growth.
You can view the full analysis from the report here: WDAY
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