Workday, Inc. - WDAY STOCK NEWS

Workday reported fiscal Q3 2022 revenues of $1.33 billion, reflecting a 20.0% year-over-year increase. Subscription revenues reached $1.17 billion, up 21.0% year-over-year, with a subscription revenue backlog of $10.97 billion, a 23.7% increase. Operating income turned positive at $23.9 million compared to a loss last year, while non-GAAP operating income was $332.2 million. Workday raised its fiscal 2022 subscription revenue guidance to $4.533 billion to $4.535 billion, indicating a promising outlook for growth.

Workday (NASDAQ: WDAY) announced key leadership changes to drive growth, promoting Doug Robinson to co-president and Barbara Larson to CFO effective Feb. 1, 2022. Robinson, previously EVP of global sales, will focus on global sales and international expansion. Larson, who joined in 2014, will manage all finance functions and the Workday Financial Management product strategy. Co-CEO Aneel Bhusri and Chano Fernandez expressed confidence in their capabilities to enhance organizational growth and value for clients amidst evolving market opportunities.

Workday (NASDAQ:WDAY) reports that over 70% of financial services firms in the Fortune 500 have adopted its cloud applications, emphasizing its growth in this sector. In the past 18 months, more than 100 new financial services customers joined, including First Sentier Investors. The company's offerings, such as Workday Financial Management and Workday HCM, enhance operational insights by breaking down data silos, thereby improving decision-making. The adoption reflects a trend towards digital transformation within the financial services, addressing the need for better risk management and efficiency amid market fluctuations.

Workday Inc. (NASDAQ: WDAY) introduced new workforce management tools focused on enhancing the experience of frontline workers. The Workday Scheduling and Labor Optimization solutions allow organizations to better align labor demands with worker preferences, promoting flexibility in shift scheduling. This innovation responds to the significant labor turnover observed, with 4.3 million U.S. workers quitting their jobs in August 2021, primarily from frontline sectors. The offerings aim to improve worker engagement, productivity, and retention in an increasingly competitive labor market.

Workday, a leader in enterprise cloud applications for finance and human resources, will announce its fiscal 2022 third quarter financial results on November 18, 2021, after market close. A conference call is scheduled for 1:30 p.m. PT to discuss the results and business outlook. Interested parties can access a live webcast of the call on the Workday Investor Relations site, with a replay available for 90 days. Workday provides solutions for financial management, human resources, and analytics, serving a wide range of organizations, including over 50% of the Fortune 500.

Prodigo Solutions has achieved Workday Certified Integration status, enhancing its integration with Workday Supply Chain Management. This certification allows Prodigo Marketplace Connect for Workday to streamline procurement processes for healthcare organizations. The platform provides real-time insights and improves order accuracy, helping customers like Allina Health manage procurement more efficiently. The technology enables end-to-end visibility in purchasing, boasting over $20 billion in annual purchases across 600 hospitals.

Workday Inc. (NASDAQ: WDAY) has been recognized as a Leader in the Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises for the sixth consecutive year. The company received this accolade for its ability to execute and has over 3,700 global customers utilizing its Human Capital Management (HCM) solutions. Recent innovations include the acquisition of Peakon, aimed at enhancing employee experience insights, and the introduction of Skills Cloud, which helps organizations manage talent effectively during the recovery from the pandemic.

Workday, Inc. (NASDAQ: WDAY) announced strategic leadership appointments aimed at accelerating its revenue growth towards $10 billion. Pete Schlampp has been appointed as chief strategy officer, while Sayan Chakraborty becomes the executive vice president of Product and Technology. Both leaders, with over 20 years of experience, will enhance the company's strategic vision and innovation efforts. Aneel Bhusri, co-founder and co-CEO, expressed confidence in their ability to execute growth strategies effectively, leveraging their track records in customer-focused initiatives and technological innovation.