Workday posts smaller loss as subscription revenue jumps

Wed May 22, 2013 4:12pm EDT

May 22 (Reuters) - Workday Inc, a provider of Web-based human resources software, reported a smaller-than-expected quarterly loss as subscription revenue rose 85 percent.

The company's net loss per share narrowed to 20 cents per share in the first quarter from 61 cents a year earlier. Excluding items, the company reported a loss of 15 cents per share.

Revenue rose 61 percent to $91.6 million. Subscription revenue rose to $68.4 million.

Analysts on average had expected an adjusted loss of 18 cents per share on revenue of $86.9 million, according to Thomson Reuters I/B/E/S.

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