Workday beats estimates for revenue and profit, stock jumps

Carl Eschenbach, CEO of Workday speaks on CNBC's Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 23, 2025. Workday , the maker of human resources and finance software, reported better-than-expected quarterly results on Tuesday. The shares popped more than 8% in extended trading. Here's how the company did in comparison with LSEG consensus: Earnings per share: $1.92 adjusted vs. $1.78 expected $1.92 adjusted vs. $1.78 expected Revenue: $2.21 billion vs. $2.18 billion expected Revenue increased 15% year over year in the quarter that ended on Jan. 31, according to a statement. Net income fell to $94 million, or 35 cents per share, from $1.19 billion, or $4.52 per share, in the same quarter a year earlier. "The prior year period benefited from a $1.1 billion release of the valuation allowance related to U.S. federal and state deferred tax assets," Workday said. The company is seeing greater demand for artificial intelligence tools. "In fact, AI is front an ... Read full article.