Workday Up 11% As Q3 Earnings Beat Street Estimates

Shares of tech company Workday, Inc. (WDAY) are rising 11 percent on Wednesday's trading after the company's adjusted earnings came in above the Street estimates.

The company posted net loss of $74.72 million or $0.29 per share in the third quarter, compared to net income of $43.41 million or $0.17 per share in the same period last year.

Excluding items, Workday reported earnings of $257.90 million or $0.99 per share for the period. On average, 30 analysts expected the company to post earnings per share of $0.84 in the quarter.

Currently at $158.94, the stock has traded between $128.72 and $285.58 during the past 52 weeks.

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