As for the outlook, Workday projected subscription revenue of $2.27 billion to $2.29 billion for fiscal 2019. For the second quarter, Workday projected subscription revenue between $557 million and $559 million, up 29 percent to 29 percent.
Among the key points from the conference call:
Workday HCM has more than 2,200 customers.
22 percent of revenue is international. Bhusri expects international revenue to increase because cloud adoption abroad has lagged behind the U.S.
Bhusri said Workday Financials is gaining traction and added that it "continues to be now a fairly healthy and becoming a more sizable business. And we're seeing good uptake in Prism Analytics and Planning."
Workday Planning won't be sold as stand-alone for the time being since it's bundled with HCM or Financials.
Machine learning adoption is slower than the hype. Bhusri said:
"We've had some machine learning capabilities for now multiple years in areas like retention risk and talent scorecard and customer collections. I'd say the uptake is, I think, there's a lot of hype around machine learning. We're providing the technology for our customers to use. They're still getting comfortable with it. I think the tech vendors are out selling and marketing it probably ahead of our customers are in terms of using it, but it's picking up. And it's definitely a differentiator because I think many customers have plans to use it in the next 12 to 18 months once they get their data and process in order. And a big part of that is getting clean data are going forward, in some cases their coming off in systems where they don't have clean data so it takes a while to up ramp it."
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