WDAY Workday Inc

By Kathryn Hardison

Workday Inc.'s fourth-quarter revenue gained 20% on strong demand for its enterprise cloud applications.

The company said its loss widened to $125.7 million, or 49 cents per share, from a loss of $73.3 million, or 29 cents per share, the year prior. Adjusted earnings per share came to 99 cents, above the 89 cents analysts were expecting, according to FactSet.

Revenue increased to $1.65 billion from $1.38 billion the year prior. Analysts expected $1.63 billion.

Subscription revenue was $1.50 billion, up 22% from the year prior, compared with the $1.49 billion analysts expected. Total subscription revenue backlog also gained 28% to $16.45 billion.

Chief Financial Officer Barbara Larson said the fourth-quarter results underscore the demand for the company's solutions as organizations prioritize finance and human-resources modernization.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

(END) Dow Jones Newswires

February 27, 2023 16:32 ET (21:32 GMT)

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