Workday Sales Beat Estimates on Cloud-Computing Demand
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Workday Inc., a maker of Web-based human-resources software, reported third-quarter revenue that beat analysts’ estimates as more companies switched to its cloud-computing tools to manage their workforces.
In its first quarterly report since becoming a publicly traded company, Workday had a loss excluding some items of 39 cents a share, the company said in a statement yesterday. Analysts predicted a loss of 49 cents, the average of estimates compiled by Bloomberg. Sales in the quarter ended Oct. 31 doubled to $72.6 million, compared with projections for $64 million.