Workday shares jump as AI demand eases investor concerns - BNN Bloomberg
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Article Excerpt
Workday shares jumped nearly 12 per cent premarket on Friday after the enterprise software maker beat first-quarter revenue and profit estimates, easing concerns that AI rivals such as Anthropic could rapidly disrupt demand for traditional software vendors.
Subscription revenue at the Pleasanton, California-based company jumped 14.3 per cent to US$2.35 billion, with net new business driving 40 per cent of that growth, according to Chief Commercial Officer Rob Enslin.
Workday, however, retained its annual subscription revenue forecast.
“We are not sure these results will be a thesis c…
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