Workday forecasts fourth-quarter subscription revenue below estimates as client spending weakens [Yahoo! Finance]
Automatic Data Processing, Inc. (ADP)
Last automatic data processing, inc. earnings: 4/29 06:56 am
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Source: Yahoo! Finance
Shares of the Pleasanton, California-based company fell over 10% in extended trading. Workday is experiencing weak demand for its payroll software, as clients cut tech budgets due to high interest rates and a cooling labor market. The company is facing stiff competition from larger rivals such as Automatic Data Processing, prompting it to introduce new artificial intelligence features to remain competitive in a crowded market. Workday's shares have dropped about 3% this year, underperforming compared to its peers such as ADP and Paycom. The company forecast fourth-quarter subscription revenue of $2.03 billion, compared with estimates of $2.04 billion, according to data compiled by LSEG. Workday said it expects fiscal 2025 subscription revenue to be $7.70 billion, below estimates of $7.72 billion. Total revenue for the third quarter came in at $2.16 billion, versus expectations of $2.13 billion. It reported subscription revenue of $1.96 billion for the quarter ended Oct.
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ADP
News
- ADP to Announce Second Quarter Fiscal 2025 Financial Results on January 29, 2025 [Yahoo! Finance]Yahoo! Finance
- ADP to Announce Second Quarter Fiscal 2025 Financial Results on January 29, 2025PR Newswire
- Here's Why We Think Automatic Data Processing (NASDAQ:ADP) Is Well Worth Watching [Yahoo! Finance]Yahoo! Finance
- Automatic Data Processing (NASDAQ:ADP) shareholders have earned a 15% CAGR over the last five years [Yahoo! Finance]Yahoo! Finance
- Workforce Analytics Market Size to Reach USD 7.26 Billion by 2031 | SkyQuest Technology [Yahoo! Finance]Yahoo! Finance
ADP
Earnings
- 10/31/24 - Beat
ADP
Sec Filings
- 12/16/24 - Form 4
- 12/16/24 - Form 4
- 12/16/24 - Form 4
- ADP's page on the SEC website