Workday Shares Decline After Quarterly Results

Workday Inc. shares fell in the extended session as first-quarter results topped Wall Street estimates and the cloud-based business provided a second-quarter sales outlook. Workday shares fell 5% to $87.77 on moderate volume. The company reported an adjusted first-quarter loss of 2 cents a share on revenue of $251 million. Analysts surveyed by FactSet had estimated a loss of 8 cents a share on revenue of $245 million. Workday estimated second-quarter revenue of $270 million to $274 million. Analysts expect $272.3 million.