Workflow
Workday logs profit beat and inks AI deal, but stock drops after earnings
WorkdayWorkday(US:WDAY) Market Watch·2024-02-27 09:11

Shares of Workday Inc. fell 8% in after-hours trading Monday after the software company merely met revenue expectations for the latest quarter, while announcing an artificial-intelligence deal. The company reported fiscal fourth-quarter net income of 1.2billion,or1.2 billion, or 4.52 cents a share, whereas it reported a net loss of 126million,or49centsashare,intheyearearlierperiod.Netincomeinthelatestquarterreflecteda126 million, or 49 cents a share, in the year-earlier period. Net income in the latest quarter reflected a 1.1 billion release of a valuation allowance related to deferred tax assets. ...