For the quarter ended October 2023, Workday (WDAY Quick QuoteWDAY - Free Report) reported revenue of $1.87 billion, up 16.7% over the same period last year. EPS came in at $1.53, compared to $0.99 in the year-ago quarter.

The reported revenue represents a surprise of +1.16% over the Zacks Consensus Estimate of $1.84 billion. With the consensus EPS estimate being $1.40, the EPS surprise was +9.29%.

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.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Workday performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Subscription Revenue Backlog: $18.45 billion versus $17.68 billion estimated by seven analysts on average.
• Revenues- Subscription services: $1.69 billion compared to the $1.68 billion average estimate based on 14 analysts. The reported number represents a change of +18.1% year over year.
• Revenues- Professional services: $174.56 million compared to the $165.02 million average estimate based on 14 analysts. The reported number represents a change of +4.7% year over year.

View all Key Company Metrics for Workday here>>>

Shares of Workday have returned +13.8% over the past month versus the Zacks S&P 500 composite's +10.7% 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.