US Stock Movement | Workday surges over 12% pre-market as Q1 results exceed expectations

Glonghui, May 22 | Office management software manufacturer Workday (WDAY.US) rose 12.31% in pre-market trading to $136.853. On the news front, Workday released better-than-expected results for the first quarter, helping to ease market concerns about the company potentially being disrupted by artificial intelligence (AI). According to the financial report, the company's first-quarter sales increased by 13.5% year-on-year to $2.54 billion, surpassing analysts' average expectation of $2.52 billion; adjusted earnings per share were $2.66, also better than analysts' average forecast of $2.52.