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Workday Shares Slide Despite Strong Q2 Earnings as Cautious Outlook Dampens Sentiment
Workday Shares Slide Despite Strong Q2 Earnings as Cautious Outlook Dampens Sentiment
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BTCCSquare news:
Workday delivered a robust fiscal Q2 performance, surpassing analyst expectations with $2.4 billion in revenue and $2.21 adjusted EPS. The 13% year-on-year growth and net income doubling to $228 million failed to impress investors, as shares tumbled nearly 6% in after-hours trading.
The market's negative reaction stems from flat Q3 guidance matching consensus at $2.4 billion, coupled with CEO Carl Eschenbach's warning about slowing government sector demand. Workday's strategic cost-cutting—including 1,750 job cuts and offshore hiring shifts—highlights its balancing act between maintaining profitability and funding AI initiatives.
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