Workday, Inc. (NASDAQ:WDAY) reported better-than-expected second quarter results after market close on Thursday.
Sales rose 12.8% year over year to $2.649 billion, exceeding the $2.636 billion consensus.
The company reported adjusted EPS of $2.75, beating the $2.61 estimate. Diluted EPS rose significantly to $2.57 from $0.84 a year ago, including a $1.52-per-share tax benefit from an intra-entity transfer of certain intellectual property rights related to an internal legal-entity restructuring.
Operating cash flow was $520 million versus $616 million a year earlier, and free cash flow declined to $460 million from $588 million.
Workday repurchased $1.3 billion of shares during the quarter, completing its previously announced $5 billion buyback six months ahead of schedule. The board authorized a new $4 billion open-ended repurchase program.
