Why Workday Zoomed Higher Today
An estimates-trouncing quarter was the key reason behind Workday (NASDAQ: WDAY) stock's very good final workday of the week. On Friday, shares of the cloud-based business applications company soared to close more than 9% higher.
In the second quarter of Workday's fiscal 2022, the company earned total revenue of $1.26 billion. This represented muscular year-over-year growth of nearly 19%. It also beat the average analyst estimate of $1.24 billion. It was fueled mainly by a nearly 20% rise in subscription revenue, which came in at $1.11 billion.
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Source Fool.com