Workday Q2 FY27: Revenue +12.8% to $2.65B; net income +177% to $632.0M on tax benefit

Filed August 27, 2026 · Period ending July 31, 2026 · Compared to 10-Q Aug 22, 2025 · ~1 min read

Key Changes

• high

  Net income surged 177% to $632M while operating income rose only 26% to $313M — the $404M divergence came from a $381M income tax benefit (IP transfer) and -$42M non-operating drag, not operations.

  MD&A: Income Tax / Notes: Income Taxes verify on EDGAR →
• high

  Operating margin expanded 627 bps YoY to 12.5% for H1 FY27 (GAAP) and 186 bps to 31.5% (non-GAAP), driven by revenue growth outpacing headcount and the absence of prior-year restructuring charges.

  MD&A: Operating Income verify on EDGAR →
• high

  Cash declined 37% to $3.4B from $5.4B at fiscal year-end.

  MD&A: Liquidity verify on EDGAR →