Workday Q4 tops expectations

Workday's subscription revenue in Q4 came to $839.7 million, an increase of 24% from the same period last year.

Workday delivered better-than-expected fourth quarter financial results on Thursday. The software-as-a-service provider reported a net loss of $146 million, or 54 cents per share.

Non-GAAP earnings were 50 cents per share on revenue of $976.3 million, up 23% annually. Subscription revenue was $839.7 million, an increase of 24% from the same period last year.

Wall Street was expecting Q4 earnings of 40 cents per share on revenue of $964.5 million.

Total revenue for the year was $3.63 billion, up 28.5% from a year ago, with non-GAAP earnings of $1.88 per share.

"We ended the fiscal year with significant momentum, including a record quarter for our financial management applications, great progress with our analytics and planning applications, and an excellent initial quarter with Scout RFP," said Workday chief executive Aneel Bhusri. 

Details were not yet available on the company's outlook for the current quarter or fiscal year. However, analysts are looking for Q1 earnings of 49 cents a share on revenue of $1 billion.