By Sabela Ojea

Workday swung to a profit in the latest quarter, as revenue climbed amid continued strong momentum for the business.

The cloud enterprise company for finance and human resources on Thursday posted a second-quarter profit of $78.7 million, or 30 cents a share, compared with a loss of $64.2 million, or 25 cents a share, for the same period a year ago.

Stripping out one-time items, the company's earnings per share came in at $1.43. Analysts polled by FactSet had forecast adjusted earnings per share of $1.26.

Revenue rose 16% to $1.79 billion, beating analysts expectations of $1.77 billion, with subscription revenue climbing to $1.62 billion from $1.37 billion a year ago.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

August 24, 2023 16:37 ET (20:37 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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