Reported 5 months ago
Workday Inc.'s shares plummeted after the company reduced its full-year subscription revenue forecast, citing heightened sales scrutiny and cautious customer orders. The software company's revised outlook for subscription sales in fiscal year ending January is $7.73 billion, down from the initial $7.78 billion. This caused Workday's stock to drop 15% to $220.91 in New York, its largest single-day decline since February 2016. CEO Carl Eschenbach aims for growth through international sales expansion and new US industry ventures, with subscription sales up 19% to $1.82 billion in the fiscal first quarter, meeting analysts' estimates.
Source: YAHOO