Workday Shares Drop On Sizable Quarterly Loss
Shares of Workday Inc. skidded in Thursday's extended session after the cloud software company posted a steep quarterly loss. Workday reported its third-quarter loss widened to $77.8 million, or 41 cents a share, from a loss of $59.9 million, or 33 cents a share. On an adjusted per-share basis, the company broke even, Eric Glass, vice president of corporate communications, told MarketWatch. Revenue rose to $305.3 million versus $215.1 million. Analysts surveyed by FactSet had forecast a loss of 4 cents a share on revenue of $303 million. The company projected fourth-quarter revenue in a range of $317 million to $320 million, up 40% to 41% year-on-year. Workday shares slid nearly 5% in after-hours trading. [Updated with comments from company and stock movement.]
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