Workday forecasts strong revenue as subscriptions jump

(Reuters) - Workday Inc, a provider of Web-based human resources software, guided fourth-quarter revenue well above expectations after reporting a 76 percent jump in quarterly sales, helped by strong growth in subscriptions. Workday's shares rose as much as 8 percent after the bell. Analysts were expecting $128.9 million, according to Thomson Reuters I/B/E/S. The company competes with Salesforce Inc and Oracle Corp in the fast-growing cloud software market but has yet to turn a profit. Workday's net loss narrowed to $47.5 million, or 27 cents per share, in the third quarter, from $41.5 million, or 67 cents per share, a year earlier.

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