Press release
Workday Announces Fiscal 2024 Third Quarter Financial Results
Fiscal Third Quarter Total Revenues of $1.87 Billion, Up 16.7% Year Over YearSubscription Revenues of $1.69 Billion, Up 18.1% Year Over Year12-Month
About this update from Workday, Inc.
[{"type":"text","content":"Fiscal Third Quarter Total Revenues of $1.87 Billion, Up 16.7% Year Over YearSubscription Revenues of $1.69 Billion, Up 18.1% Year Over Year12-Month Subscription Revenue Backlog of $6.05 Billion, Up 21.9% Year Over Year\nPLEASANTON, Calif., Nov. 28, 2023 /PRNewswire/ -- Workday, Inc. (NASDAQ: WDAY), a leader in enterprise cloud applications for finance and human resources, today announced results for the fiscal 2024 third quarter ended October 31, 2023.\n\n \n \n \n \n \n \n\n \nFiscal 2024 Third Quarter Results\nTotal revenues were $1.87 billion, an increase of 16.7% from the third quarter of fiscal 2023. Subscription revenues were $1.69 billion, an increase of 18.1% from the same period last year.Operating income was $87.9 million, or 4.7% of revenues, compared to an operating loss of $26.3 million, or negative 1.6% of revenues, in the same period last year. Non-GAAP operating income for the third quarter was $462.1 million, or 24.8% of revenues, compared to a non-GAAP operating income of $314.2 million, or 19.7% of revenues, in the same period last year.1Basic and diluted net income per share was $0.43, compared to basic and diluted net loss per share of $0.29 in the third quarter of fiscal 2023. Non-GAAP basic and diluted net income per share was $1.56 and $1.53, respectively, compared to non-GAAP basic and diluted net income per share of $1.01 and $0.99, respectively, in the same period last year.2Total subscription revenue backlog was $18.45 billion, up 30.9% from the same period last year. 12-month subscription revenue backlog was $6.05 billion, and 24-month subscription revenue backlog was $10.58 billion, up 21.9% and 22.7% year over year, respectively.Operating cash flows were $450.8 million compared to $408.7 million in the prior year. Free cash flows were $390.8 million compared to $349.8 million in the prior year.3Cash, cash equivalents, and marketable securities were $6.88 billion as of October 31, 2023.Comments on the News\n\"Workday delivered a strong quarter, demonstrating how organizations across industries and geographies are continuing to place their trust in Workday,\" said Carl Eschenbach, co-CEO, Workday. \"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...