- Workday (WDAY) is guiding for FQ4 revenue of $133M-$138M, soundly above a $128.9M consensus.
- The cloud HR/ERP software vendor's unearned revenue balance rose 8% Q/Q and 40% Y/Y to $351.8M; Y/Y growth accelerated from FQ2's 32% clip.
- Subscription revenue (74% of total revenue) rose 82% Y/Y, and services revenue rose 61%.
- Operating cash flow was $7.1M, and free cash flow was -$9.7M (less than a net loss of $21.3M).
- Much like Salesforce, Workday continues to spend aggressively: R&D and sales/marketing spend both rose 56% Y/Y to $41.9M and $49.4M, respectively.
- WDAY +6.3% AH. CC at 5PM ET.
- FQ3 results, PR
Workday's FQ4 guidance strong, unearned revenue growth accelerates
Nov 25 2013, 16:23 ET