Why Workday (WDAY) Stock Is Up in After-Hours Trading Today

NEW YORK (TheStreet) -- Workday  (WDAY) rose in after-hours trading on Wednesday after the financial management software vendor reported second-quarter earnings that beat analysts' expectations.

The company reported an adjusted net loss of 11 cents a share, compared to a loss of 13 cents a share in the year-ago quarter. Revenue increased 74% year-over-year to $186.78 million from $107.56 million. The consensus estimate called for the company to report a loss of 14 cents on revenue of $177.45 million.

The stock was up 2.9% to $92.92 at 4:22 p.m.

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Separately, TheStreet Ratings team rates WORKDAY INC as a "sell" with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:

"We rate WORKDAY INC (WDAY) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and feeble growth in its earnings per share."

You can view the full analysis from the report here: WDAY Ratings Report

WDAY Chart WDAY data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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