Cloud Computing: A Few Reasons Why Workday Can Continue Its Terrific Growth
Grazed from Fool. Author: Mukesh Baghel.
Cloud computing has opened up big opportunities for several players, and Workday’s first-quarter results indicate that it is making the most of it. Driven by strong demand for applications such as Workday Recruiting and Workday Financial Management, the company’s revenue has increased at a fast pace. Workday’s Human Capital Management (HCM) solutions have been selected by companies such as Hewlett-Packard, and this can act as a catalyst going forward.
Workday is aggressively investing in its products to land more clients in the face of competition from established players like Oracle. Even though the company posted a 74% year-over-year jump in revenue in the first quarter, its net loss widened due to investments in product development, marketing, and sales. However, the company’s outlook for the second quarter was better than expected, indicating the strong adoption of its solutions…

