Workday names new CFO, acquires cloud company VNDLY

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Shares of Workday Inc. WDAY, -0.60% were initially down 6% in extended trading Thursday after the software company reported fiscal third-quarter results that surpassed Street estimates, named Barbara Larson as new chief financial officer, and its intention to acquire VNDLY, a cloud-based vendor-management software company. Workday reported net income of $43.3 million, or 17 cents a share, vs. a net loss of $24.3 million, or 10 cents a share, in the year-ago quarter. Adjusted earnings were $1.10 a share. Revenue jumped 20% to $1.33 billion from $1.1 billion a year ago. Billings were slightly below estimates, however. Analysts surveyed by FactSet had expected net income of 87 cents a share on revenue of $1.31 billion. Workday’s stock is up 25% this year, while the broader S&P 500 index SPX, +0.34% has gained 25%.

This article was originally published by Marketwatch.com. Read the original article here.

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