Workday Tumbles Despite Earnings Beat, In-Line Revenue Guidance

Keep an eye on shares of Workday Inc (WDAY) in Wednesday's trading session. The stock may be on the move following the company's latest quarterly earnings release.
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Keep an eye on shares of Workday Inc (WDAY) in Wednesday's trading session. The stock may be on the move following the company's latest quarterly earnings release. Workday also issued its second quarter revenue outlook. For the first quarter, the cloud computing software company posted a loss of 2 cents per share, more than a nickel better than the loss of 8 cents analysts polled by Thomson Reuters had estimated. Sales for the first quarter gained 57% compared to a year ago to $251 million. The top line also surpassed the Wall Street consensus estimate of $245 million. Workday also issued its second quarter revenue guidance. Looking ahead, the company expects revenue to come in between $270 million to $274 million for the second quarter, while the consensus calls for sales of $272.4 million for the period. TheStreet's Kurumi Fukushima reports in New York.