Pleasanton-based company Workday has continued to grow through both acquisitions and rising stock.
Workday is a cloud-based human resources software vendor. The company also specializes in financial and human capital management.
In 2016, Workday has made a few different acquisitions in order for the company to continue growing. Seeking Alpha reported that Workday acquired online learning company Zaption earlier in the summer. Zaption allows companies and teachers to host videos for teaching purposes.
The company also acquired Platfora which provides tools for data discovery and operational analytics.
These two acquisitions show that Workday continues to pick up steam as it expands. The global cloud application services market Workday competes in has also continued to grow. It grew 16 percent in 2015 to $31.4 billion. Experts believe it’ll grow 20 percent in 2016 to $37.7 billion, and Workday wants to devour as much of that market as possible as it competes with companies like Oracle.
Workday hasn’t just expanded through acquisitions, though. Its stock has also risen. Investor’s Business Daily reported Workday’s stock spiked during after hours trading following the company reporting its second-quarter earnings.
Even though the company missed views, revenue topped views. Workday announced a revenue of $377.7 million (an increase of 34 percent over the same quarter of the previous year). This beat Wall Street’s estimate of $372.7 million.
“We delivered record second-quarter results with solid customer momentum and strong competitive win rates,” Workday CEO Aneel Bhusri said. “The results were well balanced across our key initiatives as we saw consistent strength across product lines, industries and geographies.”
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