In this Cloud Wars Minute, Bob Evans offers 10 reasons why Workday will surpass annual revenue of $10 billion.
Highlights
00:48 — Based on Workday’s most recent earnings call, Bob determined ten reasons that Workday will surpass its goal of $10 billion in annual revenue.
01:06 — One of the reasons, explains Bob, is that earlier this year, Aneel Bhusri named a new co-CEO, Carl Eschenbach. Bhusri noted that a co-CEO would allow him to focus on what he knows best: products and technology.
02:40 — Workday believes there will be a consolidation in the tech field as customers grow more conscious of their spending. Additionally, Bhusri raised a large point around AI and large language models (LLMs), which the company has been involved with for over a decade.
03:27 — Workday is deeply invested in employee engagement, too, which has become a top priority for customers and CEOs. Other contributing factors are Workday’s predictive planning capabilities and its Extend platform.
04:10 — Furthermore, Workday extended its relationship with AWS, which Bob believes is a factor in achieving its $10 billion goal. Workday’s total backlog was up 32% as well, in addition to raising the low end of its guidance for fiscal year 2024.
04:47 — Things are looking up for Workday, says Bob. “The key to all this is the fantastic chemistry and interplay from their co-CEOs.”
