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Why Workday Stock Was Climbing Today

Jeremy Bowman, The Motley Fool
·2-min read
Why Workday Stock Was Climbing Today

Shares of Workday (NASDAQ: WDAY) were moving higher today after the cloud software company posted better-than-expected results in its first-quarter earnings report. Workday, which specializes in software for human resources management, said that revenue in the quarter rose 17.4% to $1.68 billion, edging out estimates at $1.67 billion. Subscription revenue was up 20.1% to $1.53 billion, and total subscription revenue backlog rose 31.6% to $16.65 billion, a sign of increasing customer demand.

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