Workday, Inc. (NASDAQ: WDAY) announced third quarter financial results. Revenue increased 33.8%, reaching $743.2 million. Subscription revenues increased 34.7% to $624.4 million. Operating loss was $182.8 million. “We had a great third quarter and continue to see significant momentum across our suite of products,” said Aneel Bhusri, co-founder and CEO, Workday. “We extended our market leadership in HCM, welcoming more Fortune 500 customers to the Workday community, and accelerated adoption of Workday Financial Management as more finance organizations move to the cloud. As we look to the remainder of fiscal 2019, we are confident that our commitment to customer satisfaction and product innovation, coupled with our strong company culture, will continue to deliver meaningful growth and customer success.”
“We’re pleased with our strong performance in Q3, which resulted in accelerated growth across our core business metrics and gives us great momentum heading into year-end,” said Robynne Sisco, co-president and chief financial officer, Workday. “The strength in our business is allowing us to raise our fiscal 2019 outlook and we now expect subscription revenue of $2.375 to $2.377 billion, or growth of 33%. We continue to prioritize investing in long-term growth initiatives, while delivering solid operating and cash flow margins over time.”
Workday was ranked #1 on the Fortune Future 50 list, which recognizes the global companies with the best prospects for long-term growth. In addition, Workday was ranked #3 on the list of the 100 Best Workplaces for Women by Fortune and Great Place to Work Institute.
Building on the Adaptive Insights acquisition momentum, Workday announced it went live on Adaptive Insights Business Planning Cloud in just 10 weeks. In addition, Adaptive Insights announced it extended Business Planning Cloud with a new strategic workforce planning solution that empowers organizations to develop comprehensive workforce plans that seamlessly integrate with an organization’s larger plan.