Workday reported fiscal second-quarter revenue of $2.649 billion, up 12.8% year over year and above the $2.636 billion consensus, while adjusted earnings per share of $2.75 exceeded the $2.61 estimate. Subscription revenue rose 14% to $2.471 billion, and 12-month subscription backlog increased 14.2% to $9.03 billion, with total subscription backlog reaching $27.4 billion. The company lowered fiscal 2027 sales guidance to $9.940 billion-$9.950 billion from $10.635 billion-$10.660 billion, below the $10.669 billion estimate, and forecast third-quarter sales of $2.515 billion versus expectations of $2.697 billion. Workday said AI products generated more than $100 million in new annual contract value during the quarter, while more than 5,500 customers used an organic Workday AI agent. The board authorized a new open-ended $4 billion share-repurchase program after Workday completed its previous $5 billion authorization six months early. Shares rose 6.94% to $207 on Friday, and Piper Sandler and Needham raised their price forecasts to $190 and $230, respectively.