Workiva Stock Surges 31% on Strong Earnings Beat
Workiva (WK) shares skyrocketed 32% in a single trading session following a stellar Q2 earnings report that surpassed analyst expectations. The enterprise software developer posted $215 million in revenue, a 21% year-over-year increase, with subscription revenue climbing 23% to $198 million.
Adjusted net income of $11 million ($0.19 per share) crushed the $0.05 consensus estimate. CEO Julie Iskow attributed the performance to strong demand for the company's unified platform solutions. Workiva's bullish guidance of $870-$873 million revenue suggests the growth trajectory will continue.