Compared to Estimates, Workiva (WK) Q2 Earnings: A Look at Key Metrics
Workiva (WK) reported $155.02 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 17.8%. EPS of $0.02 for the same period compares to -$0.17 a year ago.
The reported revenue represents a surprise of +1.06% over the Zacks Consensus Estimate of $153.4 million. With the consensus EPS estimate being -$0.08, the EPS surprise was +125.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Workiva performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Subscription and support: $136.77 million versus $134.77 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +20.7% change.
Revenue- Professional Services: $18.25 million compared to the $18.65 million average estimate based on five analysts. The reported number represents a change of +0.3% year over year.
Gross profit- Professional services (non-GAAP): $4.50 million versus the five-analyst average estimate of $5.26 million.
Gross profit- Subscription and support (non-GAAP): $113.10 million versus $112.29 million estimated by five analysts on average.
View all Key Company Metrics for Workiva here>>>
Shares of Workiva have returned +4.4% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Workiva Inc. (WK) : Free Stock Analysis Report
