Earnings Call
May 21, 2026
Q2 FY2026
EPS Estimate
2.49
EPS Actual
—
Post-Earnings Close
$128.14
Earnings Reaction
+5.2%
Workday's Q2 FY2026 results came in ahead of expectations on the metrics that matter most to investors, with subscription revenue of $2.169 billion growing 14% year-over-year and non-GAAP operating margin holding at 29%, consistent with the prior quarter and the full-year target. Total revenue of $2.348 billion grew 13%, and the 12-month subscription revenue backlog (cRPO) accelerated to 16.4% growth, a figure that stood out given the broader enterprise software environment and was driven by a combination of strong new ACV, elevated early renewals, and partner-sourced deals. Gross revenue retention remained at 97%, underscoring the durability of the installed base.
Report generated on May 20, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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