Workday Inc ( WDAY ) reported second-quarter financial results Thursday after the bell. Here’s a rundown of the report.

Q2 Earnings: Workday reported second-quarter revenue of $2.08 billion, beating the consensus estimate of $2.07 billion. The company reported adjusted earnings of $1.75 per share, beating analyst estimates of $1.65 per share, according to Benzinga Pro.

Workday said it ended the quarter with a 12-month subscription revenue backlog of $6.8 billion, up 16.1% year-over-year. Total subscription revenue backlog came in at $21.58 billion, up 20.9% year-over-year.

The company generated $571 million in operating cash flows and $516 million in free cash flow during the quarter. Workday ended the quarter with $7.37 billion in cash, cash equivalents and marketable securities.

“Workday delivered a solid quarter of growth and operating margin expansion, as businesses of all sizes and industries around the world increasingly turn to Workday as their trusted partner in navigating the future of work,” said Carl Eschenbach, CEO of Workday.

“Through the power of our unified, AI-powered platform and our expanding partner ecosystem, we’re reimagining HR and Finance to consistently increase the value we deliver to our customers.”

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Workday’s board approved a new share repurchase program, allowing the company to buy back an additional $1 billion of its common stock, according to Benzinga Pro.

Outlook: Workday expects third-quarter subscription revenue of $1.955 billion, representing growth of 16%. The company expects full-year revenue to be in the range of $7.7 billion to $7.725 billion.

Workday’s management team is currently discussing these results on a conference call that kicked off at 4:30 p.m. E.T.

WDAY Price Action: Workday shares were down 6.53% in after-hours, trading at $216 at the time of publication Thursday, according to Benzinga Pro.

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