Workday logs profit beat and inks AI deal, but stock drops after earnings

Shares of Workday Inc. fell 8% in after-hours trading Monday after the software company merely met revenue expectations for the latest quarter, while announcing an artificial-intelligence deal. The company reported fiscal fourth-quarter net income of $1.2 billion, or $4.52 cents a share, whereas it reported a net loss of $126 million, or 49 cents a share, in the year-earlier period. Net income in the latest quarter reflected a $1.1 billion release of a valuation allowance related to deferred tax assets. ...