Enterprise software maker Workday summed up the second quarter of fiscal year 2018. The company's revenues exceeded Wall Street expectations, which helped to raise quotations.

For the reported three-month period ended July 31, 2017, Workday sales amounted to 525.3 million dollars, which is 40.6% more than a year earlier. Net losses for the year decreased from 107.8 to 80.7 million dollars.

Adjusted earnings, "cleared" of a number of irregular earnings and costs, turned out to be equal to 24 cents per share, while analysts surveyed by FactSet expected earnings of 15 cents per share. Forecast of market experts on revenue - $ 373 million.

"The results of the second quarter underscore our confidence that Workday is the leading provider of cloud solutions in the areas of finance and human resources. We not only continued to gain momentum in the financial sector, but also achieved that more than 30% of Fortune 500 companies chose Workday as the main tool for personnel management, "said Aneel Bhusri, co-founder and CEO of Workday,. "The combination of success and our growing strength among medium-sized companies and the introduction of new products, such as Workday Planning, gives us greater confidence in our ability to further increase the share of the global market".

Meanwhile, Workday can not return to profit for several quarters in a row, which is associated with greater investment in global expansion. In the second financial quarter, the company's total expenses rose to $ 607 million from $ 460.3 million in May-July 2016.

Workday is one of the largest manufacturers of enterprise resource planning systems (Enterprise Resource Planning (ERP). In addition, according to Gartner, the company is leading the market for software for personnel management (Human Capital Management).

In the last reporting quarter, the company's revenues from software sales by subscription reached $ 434.5 million, which is 42% more than a year ago.

According to the results of the current financial year, the company expects revenues from subscriptions at the level of 1.75-1.757 billion dollars, which is about 36% more compared to 2017. In the third quarter the revenue from this business is predicted in the range of $ 450 to $ 452 million (+ 33-34% year on year). On Wall Street expect quarterly revenue of 435 million dollars.

After the publication of financial results, Workday shares rose more than 2%.