By Sabela Ojea

Workday posted higher revenue in the fiscal third quarter, further boosted by its subscription topline performance.

The cloud enterprise company for finance and human resources on Tuesday posted a net profit for the three months ended Oct. 31 of $113.7 million, or 43 cents a share, compared with a loss of $74.7 million, or 29 cents a share, for the same period a year earlier.

Stripping out one-time items, the company's earnings per share came in at $1.53. Analysts polled by FactSet had forecast adjusted earnings per share of $1.41.

Revenue climbed 17%, to $1.87 billion, beating analysts expectations of $1.85 billion, with subscription revenue rising to $1.69 billion from $1.43 billion.

"The momentum across our business is palpable, powered by our AI innovation, strength in full platform deals, expanding partner ecosystem, and international growth--with EMEA surpassing $1 billion annual recurring revenue in the quarter," Co-Chief Executive Carl Eschenbach said.

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

(END) Dow Jones Newswires

November 28, 2023 16:30 ET (21:30 GMT)

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