NASDAQ$WDAY
Workday Inc A · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Workday's first quarter of fiscal year 2024 showed strong financial performance.
Workday announced a strong first quarter for fiscal year 2024, with total revenues of $1.68 billion, up 17.4% year-over-year, and subscription revenues of $1.53 billion, up 20.1% year-over-year. The company is raising the low end of its fiscal 2024 subscription revenue guidance to a range of $6.550 billion to $6.575 billion, representing 18% growth over the prior fiscal year. They are maintaining their fiscal 2024 non-GAAP operating margin guidance of 23%.
- Total revenues were $1.68 billion, an increase of 17.4% from the first quarter of fiscal 2023.
- Subscription revenues were $1.53 billion, an increase of 20.1% from the same period last year.
- Non-GAAP operating income for the first quarter was $395.9 million, or 23.5% of revenues.
- Non-GAAP basic and diluted net income per share was $1.32 and $1.31, respectively.
Headline financials
Revenue & EPS history
Workday · Revenue · Quarterly
$1.68B
Revenue by segment
Workday · $1.68B total across 2 segments · Q1 2024
- Subscription services$1.53B+20.1%90.7%
- Professional services$156M-3.8%9.3%
Forward guidance
Workday is raising the low end of its fiscal 2024 subscription revenue guidance to a range of $6.550 billion to $6.575 billion, representing 18% growth over the prior fiscal year. They expect second-quarter subscription revenue to be $1.611 billion to $1.613 billion, also 18% growth. They are maintaining their fiscal 2024 non-GAAP operating margin guidance of 23%.
Tailwinds
- Raising the low end of fiscal 2024 subscription revenue guidance.
- Maintaining fiscal 2024 non-GAAP operating margin guidance of 23%.
- Expecting second-quarter subscription revenue to be $1.611 billion to $1.613 billion, also 18% growth.
- Strong first quarter performance.
- Durable demand across solutions.
Headwinds
- Did not provide GAAP operating margin guidance.
- Forward-looking statements are subject to risks, uncertainties, assumptions, and changes in circumstances.
- Breaches in security measures could impact results.
- Service outages and delays in application deployment could impact results.
- Macroeconomic events could impact business.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
+0.5%
Avg return
Earnings day
-0.4%
Avg return
5 days after
-1.7%
Avg return
30 days after
41%
22 / 54 earnings
Positive
+20.5%
Q4 2016
Best reaction
-15.3%
Q3 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | -4.6% | -7.6% | -12.9% | |
| Q4 2026 | -0.2% | +2.9% | -4.6% | |
| Q3 2026 | -3.0% | -8.7% | -5.6% | |
| Q2 2026 | -2.8% | +0.9% | +2.7% | |
| Q1 2026 | -12.4% | -11.8% | -12.5% | |
| Q4 2025 | +6.2% | -0.3% | -6.6% | |
| Q3 2025 | -5.3% | -6.6% | +0.6% | |
| Q2 2025 | +11.3% | +13.3% | +6.3% | |
| Q1 2025 | -15.0% | -17.1% | -15.7% | |
| Q4 2024 | -3.5% | -4.6% | -10.5% | |
| Q3 2024 | +11.7% | +15.7% | +17.1% | |
| Q2 2024 | +2.9% | +5.0% | +0.3% | |
| Q1 2024 | +10.1% | +6.6% | +13.3% | |
| Q4 2023 | +1.3% | +4.6% | +8.3% | |
| Q3 2023 | +15.6% | +17.7% | +15.5% | |
| Q2 2023 | +3.8% | +2.4% | -5.7% | |
| Q1 2023 | -3.5% | -5.0% | -7.6% | |
| Q4 2022 | +6.7% | +6.7% | +7.3% | |
| Q3 2022 | -4.8% | -8.8% | -9.0% | |
| Q2 2022 | +9.4% | +11.0% | +9.1% | |
| Q1 2022 | -3.1% | -3.3% | +2.7% | |
| Q4 2021 | -6.7% | -5.6% | -5.0% | |
| Q3 2021 | -6.4% | -4.7% | +8.0% | |
| Q2 2021 | +14.2% | +13.2% | +1.0% | |
| Q1 2021 | +8.4% | +5.7% | +11.4% | |
| Q4 2020 | -1.2% | -5.0% | -22.3% | |
| Q3 2020 | -3.8% | -3.3% | -2.6% | |
| Q2 2020 | -4.3% | -5.6% | -9.0% | |
| Q1 2020 | -3.6% | -3.1% | -2.1% | |
| Q4 2019 | -4.2% | -7.8% | -2.3% | |
| Q3 2019 | +12.5% | +13.2% | +9.4% | |
| Q2 2019 | -8.0% | -6.2% | -9.6% | |
| Q1 2019 | -4.2% | -2.3% | -8.1% | |
| Q4 2018 | -0.9% | +2.7% | -0.5% | |
| Q3 2018 | -10.2% | -15.8% | -11.3% | |
| Q2 2018 | +5.1% | +4.2% | +0.9% | |
| Q1 2018 | +4.4% | +2.7% | -3.0% | |
| Q4 2017 | -7.5% | -6.4% | -5.7% | |
| Q3 2017 | -15.3% | -12.8% | -21.6% | |
| Q2 2017 | +6.7% | +4.3% | +12.0% | |
| Q1 2017 | +1.8% | +5.4% | -1.8% | |
| Q4 2016 | +20.5% | — | — | |
| Q3 2016 | -0.7% | — | — | |
| Q2 2016 | +7.6% | — | — | |
| Q1 2016 | -11.0% | — | — | |
| Q4 2015 | -4.7% | — | — | |
| Q3 2015 | -6.1% | — | — | |
| Q2 2015 | -5.4% | — | — | |
| Q1 2015 | +7.3% | — | — | |
| Q4 2014 | +16.9% | — | — | |
| Q3 2014 | +11.5% | — | — | |
| Q2 2014 | -1.6% | — | — | |
| Q1 2014 | -3.4% | — | — | |
| Q4 2013 | -3.2% | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2011 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro