Workday Inc（NASDAQ:WDAY）在2026年2月24日的美股盤後交易中下跌超過6%， despite reporting fourth-quarter results that exceeded market expectations. The decline was driven by a more cautious outlook for fiscal 2027 subscription revenue growth.

For fiscal 2026 fourth quarter, the company recorded total revenue of US$2.532 billion, up 14.5% year‑over‑year. Subscription revenue, which accounts for the bulk of its business, rose 15.7% to US$2.360 billion.

Non‑GAAP diluted earnings per share came in at US$2.47, exceeding analyst estimates of US$2.30. That compares with US$1.92 a year earlier. On a GAAP basis, diluted net income per share was US$0.55, up from US$0.35 in the same period last year.

Operating income was US$174 million, or 6.9% of revenue, compared with US$75 million, or 3.4% of revenue, a year earlier. Non‑GAAP operating income reached US$774 million, representing a 30.6% margin, up from 26.4% in the prior-year quarter.

For the full fiscal year, operating cash flow totaled US$2.939 billion, an increase of 19.4% year‑over‑year.

"Our fourth quarter results reflect the deep trust customers place in Workday to manage their most critical assets," Workday chief financial officer Zane Rowe said in a statement.

Looking ahead, Workday guided to subscription revenue of US$2.335 billion for the first quarter of fiscal 2027, representing growth of 13%, along with a non‑GAAP operating margin of 30.5%.

For the full fiscal year 2027, the company expects subscription revenue of US$9.925 billion to US$9.950 billion, implying growth of 12% to 13%, and a non‑GAAP operating margin of 30%.