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How Workday (WDAY) makes money

Workday (WDAY) made $2.6B of revenue in the second quarter fiscal 2027 (Q2 FY27), +13% from a year earlier. Subscription services brought in $2.5B (93%); Professional Services brought in $178M (7%). Of every dollar of revenue, 12¢ was left as operating profit, 24¢ was left as net earnings.

Drawing the Sankey…

Workday revenue by segment, Q2 FY27Workday revenue by segment, Q2 FY27Subscription services$2.5BProfessional Services$178M
Workday: revenue by line, Q4 FY25 to Q2 FY27Workday: revenue by line, Q4 FY25 to Q2 FY27Subscription servicesProfessional ServicesSubscription services: $2.5B latest$2.5BProfessional Services: $178M latestQ4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27Q2 FY27
The mix barely moved between Q4 FY25 and Q2 FY27.
Workday revenue by quarterWorkday revenue by quarter$2.2BQ4 FY25$2.2BQ1 FY26$2.3BQ2 FY26$2.4BQ3 FY26$2.5BQ4 FY26$2.5BQ1 FY27$2.6BQ2 FY27
Workday: where each dollar of revenue goesWorkday: where each dollar of revenue goesOperating profit12¢Net earnings24¢Operating cash flow20¢Free cash flow17¢

Revenue by segment, Q2 FY27

SegmentRevenueShareQ/QY/Y
Subscription services$2.5B93.3%+5%+14%
Professional Services$178M6.7%-5%-0.6%

Where each dollar of revenue goes

LineQ2 FY27% of revenue
Revenue$2.6B100.0%
Operating profit$313M11.8%
Net earnings$632M23.9%
Operating cash flow$519M19.6%
Free cash flow$460M17.4%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q2 FY27$2.6B+13%
Q1 FY27$2.5B+14%
Q4 FY26$2.5B+14%
Q3 FY26$2.4B+13%
Q2 FY26$2.3B+13%
Q1 FY26$2.2B+13%
Q4 FY25$2.2B+15%

From Workday's 10-Q filed Aug 27, 2026 (on EDGAR).

Questions

How does Workday make money?

Workday (WDAY) made $2.6B of revenue in the second quarter fiscal 2027 (Q2 FY27), +13% from a year earlier. Subscription services brought in $2.5B (93%); Professional Services brought in $178M (7%). Of every dollar of revenue, 12¢ was left as operating profit, 24¢ was left as net earnings.

What is Workday's biggest business?

Subscription services: $2.5B in the second quarter fiscal 2027, 93% of revenue, +14% from a year earlier.

What is Workday's profit margin?

Net earnings were $632M, 23.9% of revenue, in the second quarter fiscal 2027; the operating margin was 11.8%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.