Workday promotes Chano Fernandez as co-CEO, raises 2021 subscription forecast

Aug 27 (Reuters) - Workday Inc WDAY.O on Thursday appointed Chano Fernandez as co-chief executive officer and raised its annual subscription forecast, sending the business software provider's shares up nearly 12% in extended trading.

The company, which has become the latest to opt for the co-CEO model after Netflix Inc NFLX.O, promoted co-president Fernandez to serve alongside CEO and co-founder Aneel Bhusri.

Workday said it expects fiscal 2021 subscription revenue between $3.73 billion and $3.74 billion, up from its previous forecast of $3.67 billion to $3.69 billion.

The Pleasanton, California-based company's total revenue jumped 19.6% to $1.06 billion for the second quarter ended July 31, edging past analysts' average estimate of $1.04 billion, according to IBES data from Refinitiv.

(Reporting by Neha Malara in Bengaluru; Editing by Shinjini Ganguli)

((Neha.Malara@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3443;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.