Workday’s (WDAY) shares soared over 11% in after-hours trading on Thursday after the HR and finance software vendor reported first-quarter 2027 earnings that surpassed Wall Street’s expectations. Its total subscription revenue backlog hit roughly $27.3 billion, up by approximately 11% from a year ago.
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The rally came despite Workday reaffirming its previous below-consensus guidance for fiscal 2027. However, Aneel Bhusri, the company’s co-founder, CEO, and chair, noted that the results showed that “Workday is ready for this AI moment.”