04:46 AM EDT, 08/23/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Workday (WDAY) shares were up 11% in premarket activity on Friday after the company overnight reported an increase in fiscal Q2 earnings and sales, beating market expectations.

The company reported fiscal Q2 non-GAAP earnings late Thursday of $1.75 per diluted share, up from $1.43 a year earlier.

Analysts polled by Capital IQ expected $1.65.

Revenue for the quarter ended July 31 was $2.09 billion, up from $1.79 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.07 billion.

The company said it expects fiscal Q3 subscription revenue of about $1.96 billion.

For the fiscal year 2025, the company reiterated its subscription revenue guidance of $7.70 billion to roughly $7.73 billion.

Price: 256.13, Change: +25.05, Percent Change: +10.84