Workday (WDAY) shares continue to take a beating, plunging lower in Friday's trading after the cloud-based corporate management platform slashed its full-year subscription revenue outlook. Workday's stock has fallen by over $40 since the market close yesterday. Yahoo Finance's Market Domination team reviews Workday's first-quarter earnings beat reported on Thursday. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
(Bloomberg) -- Workday Inc. shares plunged the most in more than eight years after the software company cut its full-year forecast for subscription revenue and said customers were being more cautious with orders. Most Read from BloombergWhat the Trump Jury Saw as Evidence Against Him in 12 ImagesSingapore Air Changes Seatbelt Rules After Fatal TurbulenceThe Rise and Fall of Simon Sadler's Segantii, One of Asia's Most Successful Hedge FundsHungary Wants to ‘Redefine’ Its NATO Membership, Orban Sa
The human-resources software company reported higher earnings and sales than expected, but dialed back its forecast for subscription revenue.