Workday Shares Fall In Pre-market After Cutting Subscription Revenue Outlook

(RTTNews) - Shares of Workday, Inc. (WDAY), a provider of were falling more than 10 percent in pre-market on Friday to $232.49, after cutting its fiscal 2025 subscription revenue outlook.

The company now expects full-year subscription revenue to be in the range of $7.700 billion - $7.725 billion, down from the previous outlook of $7.725 billion - $7.775 billion.

For the first quarter, the company posted net income of $107 million or $0.40 per share compared with breakeven last year.

Revenue for the quarter increased to $1.99 billion from $1.684 billion in the previous year.

Workday shares had closed at $260.90, up 0.39 percent on Thursday. The stock has been trading in the range of $201.42 - $311.28 in the last 1 year.