Workday stock rises after earnings beat

Workday Inc. shares rose in the extended session Thursday after the cloud-software company's results topped Wall Street estimates. Workday shares rose 1% after hours, following a 1.3% gain in the regular session to close at $187.65. The company reported a second-quarter loss of $120.7 million, or 53 cents a share, compared with a loss of $86.2 million, or 40 cents a share, in the year-ago period. Adjusted earnings were 44 cents a share. Revenue rose to $887.8 million from $671.7 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 35 cents a share on revenue of $747.5 million. Workday expects subscription revenue of $783 million to $785 million for the third quarter, and $3.06 billion to $3.07 billion for the year. Analysts estimate subscription revenue of $783 million for the third quarter, and $3.06 billion for the year.

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