Workday Loss Narrower Than Estimates; Stock Down 6%

(RTTNews) - Workday Inc (WDAY), the cloud-based human resource software maker, on Tuesday reported first-quarter net loss of $61.6 million or $0.33 per share compared with a loss of $59.4 million or $0.32 per share last year.

Excluding stock-based compensation expense and other one-time items, adjusted loss for the quarter was $0.02 per share compared with a loss of $0.13 per share a year ago.

Revenues for the quarter surged 57% to $251 million from $159.7 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.08 per share on revenues of $245 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, the company expects revenues of $270 and $274 million, while analysts expect $272.4 million.