Workday (WDAY) reported first quarter adjusted earnings per share of $1.74 per share, well above the estimate of $1.58. Revenue was about in line with estimates, $1.99 billion compared to the $1.97 billion expectation. However, the company cut its full-year subscription guidance. CFO Zane Rowe says in the release the "updated subscription revenue guidance reflects the elevated sales scrutiny and lower customer headcount growth we experienced during the quarter."

Yahoo Finance's Julie Hyman and Josh Lipton break down the results.

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This post was written by Stephanie Mikulich.