Workday, Inc. - WDAY STOCK NEWS

Workday (NASDAQ: WDAY), a leader in enterprise cloud applications, plans to report its fiscal 2023 fourth quarter and full year financial results on February 27, 2023, after market close. A conference call to discuss the results and business outlook will follow at 1:30 p.m. PT / 4:30 p.m. ET. Investors can access a live webcast of the call through the Workday Investor Relations site, with a replay available for at least 90 days. The company serves thousands of organizations globally, including more than 50% of the Fortune 500.

Workday (NASDAQ: WDAY) announced a $250 million expansion of its Workday Ventures fund to drive innovation in artificial intelligence (AI) and machine learning (ML). This investment aims to strengthen its position as a leader in enterprise cloud applications, supporting customers' adaptation to emerging working models and technologies. The expansion emphasizes investments in AI and ML technologies, intelligent automation, and targeted markets. Workday Ventures has previously invested in 43 technology companies, showcasing its commitment to shaping the future of work.

Workday, Inc. (NASDAQ: WDAY) faces backlash from Rock & Roll icons, including Billy Idol and Ozzy Osbourne, for its use of the term 'rock star' in corporate contexts. These musicians argue the moniker should be reserved for those who earned it through significant contributions to music. The protest was sparked by Workday's new campaign, which celebrates its customers as 'rock stars' in the workplace. The campaign also features a Super Bowl advertisement airing on February 12, 2023. Workday's CMO acknowledged the distress caused by this terminology and pledged to use the phrase more thoughtfully in the future.

Workday, Inc. (NASDAQ: WDAY) announced that over 50% of the Fortune 500 retail organizations are utilizing its cloud solutions to enhance digital transformation. The company has introduced new AI/ML-driven demand forecasting features for its Workday Scheduling and Labor Optimization product, aimed at optimizing labor schedules and improving the frontline worker experience. Notable clients include Dave & Buster's and RaceTrac. Workday's solutions provide deeper financial insights, operational flexibility, and improve workforce management. Early adopters of the new features are expected to start deployments in H1 2023, indicating strong market momentum in retail.

Tecsys Inc. (TSX: TCS) has achieved Workday Certified Integration status, enhancing its integration with Workday Supply Chain Management (SCM) for Healthcare. This certification aims to provide healthcare organizations with improved visibility and efficiency in managing their supply chains. The integration facilitates seamless ordering and replenishment processes at customer sites like Prisma Health and Corewell Health, enabling real-time insights and streamlined workflows. This partnership positions Tecsys as a key player in optimizing supply chain solutions for the healthcare sector.

Workday, a leader in enterprise cloud applications, announced the appointment of Carl Eschenbach as co-CEO, effective immediately. He will serve alongside Aneel Bhusri, who will transition to a full-time executive chair role in January 2024. Chano Fernandez has stepped down as co-CEO and board member. Eschenbach brings over 35 years of tech leadership experience, having previously scaled VMware to over $7 billion in revenue. The company reaffirms its financial guidance for Q4 fiscal 2023 and preliminary outlook for fiscal 2024.

Workhuman, a certified software partner of Workday (NASDAQ: WDAY), has recertified its integration with Workday HCM to enhance employee recognition and workflow. This integration enables seamless participation in recognition, celebrations, and conversations directly within the Workday platform. It aims to streamline data flows for a financial services company with nearly 2,000 employees, improving data consistency and operational efficiency. Key features include configurable mappings and management of integration tasks, boosting HR insights and workplace culture.

Workday reported fiscal Q3 2023 results with total revenues of $1.60 billion, up 20.5% year over year, and subscription revenues of $1.43 billion, up 22.3%. Operating loss was $26.3 million, contrasting with $23.9 million in operating income in the same quarter last year. Non-GAAP basic net income per share dropped to $1.01 from $1.15. The company raised its fiscal 2023 subscription revenue guidance to $5.555 billion to $5.557 billion, reflecting 22% growth. Workday also announced a $500 million share repurchase program.