Workday Inc, a provider of Web-based human resources software, guided fourth-quarter revenue well above expectations after reporting a 76 percent jump in quarterly sales, helped by strong growth in subscriptions from financial customers. Workdays shares rose as much as 8 percent after the bell. Northland Capital Markets analyst Scott Berg said the company reported its largest sequential increase in deferred revenue since its IPO, helped by strong growth in billings. Guidance was above expectations and would appear to be fairly conservative given the momentum in billings, Evercore analyst Kirk Materne said.
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