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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Workday most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For Q1 FY19, Workday's net sales reached $618.64 million, reflecting an increase of 28.92% from $479.86 million in Q1 FY18, driven by a strong adoption and notable deployments of the Company's finance and HR applications across customer sizes, geographies, and industries. The Company's revenue numbers exceeded analysts' consensus estimates of $609 million.

For the quarter under review, Workday's subscription services revenues advanced 30.62% to $522.15 million on a y-o-y basis, while its professional services revenues jumped 20.43% to $96.49 million on a y-o-y basis.

During Q1 FY19, Workday's total cost and expenses were $689.91 million, 27.75% higher than $540.06 million in Q1 FY18. For the reported quarter, the Company's product development expenses increased 34.18% to $263.58 million on a y-o-y basis, while its sales and marketing expenses jumped 23.80% to $192.77 million on a y-o-y basis. Workday reported an operating loss of $71.26 million in the reported quarter compared to $60.20 million in the previous year's same quarter.

Workday had a net loss of $74.41 million in the quarter ended April 30, 2018, versus a net loss of $64.04 million in the comparable period of last year. The Company's net loss per share also widened to $0.35 in Q1 FY19 from $0.31 in Q1 FY18. The Company's reported earnings included share based compensation expenses, other operating expenses, and amortization of debt discount and issuance costs. Excluding these special items, Workday had an adjusted net income per share of $0.33 in the reported quarter, an increase of 13.79% from $0.29 in the prior year's corresponding quarter. This was higher than analysts' consensus estimates of $0.26 per share.

Cash Matters

Workday had a total cash, cash equivalents, and restricted cash balance of $1.04 billion as on April 30, 2018, an increase of 107.03% from $501.10 million as on April 30, 2017.

For the quarter ended April 30, 2018, Workday's cash flow from operating activities was $184.23 million, 2.34% higher than $180.02 million in the corresponding period of last year. The Company had a free cash flow of $135.37 million in Q1 FY19, down 9.41% on a y-o-y basis.

Workday incurred a capital expenditure, excluding owned real estate projects, of $48.86 million in Q1 FY19 compared to $30.59 million in Q1 FY18, reflecting an increase of 59.72%.

Outlook

Based on the strong first quarter results, Workday raised its guidance for the full fiscal year 2019. The Company now expects subscription revenues of $2.28 billion to $2.29 billion for FY19, which implies a growth of 27% to 28% on a y-o-y basis. The Company expects subscription revenues to be between $557 million and $559 million for Q2 FY19, implying a growth of 28% to 29% on a y-o-y basis.

Stock Performance Snapshot

June 27, 2018 - At Wednesday's closing bell, Workday's stock dropped 3.37%, ending the trading session at $117.72.

Volume traded for the day: 2.21 million shares, which was above the 3-month average volume of 1.76 million shares.

Stock performance in the previous six-month period ? up 14.37%; past twelve-month period ? up 19.68%; and year-to-date ? up 15.71%

After yesterday's close, Workday's market cap was at $26.18 billion.

The stock is part of the Technology sector, categorized under the Application Software industry.

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