Workday Gains After Earnings Beat

Workday Inc. [s:wday] announced slightly better-than-expected quarterly financial results Thursday, and the cloud-software company's stock rose higher in late trading. Workday announced a net loss of $114.1 million, or 57 cents a share, on sales of $409.6 million for the fiscal third quarter. After adjustments for stock-based compensation and other factors, the company claimed a loss of 3 cents a share. Analysts polled by FactSet expected Workday to report an adjusted loss of 4 cents a share on sales of $400 million. Workday shares jumped 5% immediately after the results were announced, but the gains calmed down to slightly more than 1.5%, with shares trading near $83 after ending the day's session down 3.2% at $81.60.

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