Workday (WDAY) Says AI Drove 25% of New Annual Contract Value. Why Did Total Subscription Backlog Grow Only 8%?

Image for article Workday (WDAY) Says AI Drove 25% of New Annual Contract Value. Why Did Total Subscription Backlog Grow Only 8%?
News Source : Yahoo Entertainment

News Summary

  • (NASDAQ: WDAY) is beginning to show that artificial intelligence can generate measurable contract activity.
  • Second-quarter subscription revenue increased 13.9% to $2.471 billion, while AI products produced more than $100 million of new annual contract value.
  • Company-reported annual recurring revenue from AI products, an operating metric rather than GAAP revenue, approached $600 million, up more than 200% from a year earlier and more than 20% sequentially.
Workday, Inc. (NASDAQWDAY) is beginning to show that artificial intelligence can generate measurable contract activity. Secondquarter subscription revenue increased 13.9% to $2.

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