Workday Shares Slide Even As Quarterly Results Beat

By Wallace WitkowskiMarketsMarketWatch Pulse

Workday Inc. shares slipped in the extended session Tuesday even after the business cloud-software company topped Wall Street estimates for the quarter. Workday shares fell 4.1% to $72.70 after hours. The company reported adjusted earnings of 5 cents a share on revenue of $345.4 million. Analysts surveyed by FactSet had forecast a loss of 2 cents a share on revenue of $338.7 million. Workday sees second-quarter revenue of $371 million to $373 million. Analysts expect $370.9 million. Workday's stock, however, was downgraded on Friday by Wedbush Securities.

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