Workday Revises FY Outlook

(RTTNews) - While reporting its results for the first quarter on Thursday, cloud computing Workday Inc. (WDAY), revised its outlook for the full year.

Workday Chief Financial Officer Barbara Larson said that the company is raising fiscal 2023 subscription revenue to be in the range of $5.537 billion to $5.557 billion, representing year-over-year growth of 22%.

Previously, the company expected fiscal 2023 subscription revenue to be in a range of $5.530 billion to $5.550 billion, representing year-over-year growth of 22%.

The company expects second-quarter subscription revenue of $1.353 billion to $1.355 billion, representing year-over-year growth of 22%.

The company maintained its fiscal 2023 adjusted operating margin guidance of 18.5%.