Workday shares rocket higher after it beats revenue targets

Aneel BhusriScott Olson/Getty ImagesWorkday cofounder and CEO Aneel Bhusri.

Workday’s stock popped as much as 12% in after hours trading on Wednesday after the company reported quarterly revenue that topped Wall Street targets.

Workday’s stock initially traded down after the announcement, but then reversed course as the company held its conference call with analysts.

Revenue in the fiscal second quarter increased 34% year-over-year to $377.7 million, ahead of the average analyst expectation of $372.7 million.

On the other hand, the company posted a quarterly loss, excluding certain items, of 4 cents per share, which was worse than the 2 cent loss expected by Wall Street.

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