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Workday jumps 10% as it bumps up margin forecast on AI strength
Workday raised its full-year adjusted operating margin forecast to 30.5% as clients using its AI agents topped 4,000, the company said.
- On Thursday, Workday shares surged as much as 11% in extended trading after the finance and human resources software maker reported stronger-than-expected results and raised its adjusted operating margin forecast to 30.5%.
- Workday shares were down for the year as of Thursday, as investors fretted that generative artificial intelligence models could reduce growth prospects for major software companies.
- During the quarter, Workday reported that over 4,000 clients are using its Sana AI agents, more than doubling from the prior period, while co-founder Aneel Bhusri is replacing Carl Eschenbach as CEO.
- Fiscal first-quarter revenue reached $2.54 billion, up 13% year-over-year, while net income surged to $222 million, or 87 cents per share, from the prior year.
- Bhusri stated, "Our core business is strong, our AI strategy is working, and we're moving with the speed and focus required to lead," underscoring management confidence in the company's trajectory.
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Total News Sources13
Leaning Left2Leaning Right2Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 22%
C 56%
R 22%
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