For the quarter ended July 2024, Workday (WDAY Quick QuoteWDAY - Free Report) reported revenue of $2.09 billion, up 16.7% over the same period last year. EPS came in at $1.75, compared to $1.43 in the year-ago quarter.

The reported revenue represents a surprise of +0.72% over the Zacks Consensus Estimate of $2.07 billion. With the consensus EPS estimate being $1.63, the EPS surprise was +7.36%.

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

  : $21.58 billion compared to the $21.37 billion average estimate based on four analysts.

• Revenues- Subscription services

  : $1.90 billion compared to the $1.90 billion average estimate based on 10 analysts. The reported number represents a change of +17.2% year over year.

• Revenues- Professional services

  : $182 million versus $173.42 million estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +11.8% change.

View all Key Company Metrics for Workday here>>>

Shares of Workday have returned +5.9% over the past month versus the Zacks S&P 500 composite's +2.2% 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.