Workday Inc (NASDAQ: WDAY) stock rose 1.39% after the company gave the mixed result for the second quarter 2019 and raised its subscription outlook. The company reported a second-quarter loss of $86.2 million, compared with a loss of $82.5 million in the year-ago period. Cash, cash equivalents, and marketable securities were $3.0 billion as of July 31, 2018. Unearned revenues were approximately $1.5 billion, which is a 21.3% rise from the same period last year.

WDAY in the second quarter of FY 19 has reported the adjusted earnings per share of 24 cents, missing the analysts’ estimates for the adjusted earnings per share of 26 cents. The company had reported the adjusted revenue growth of 27.9 percent to $671.7 million in the second quarter of FY 19, beating the analysts’ estimates for revenue of $662.8 million. The Q2 subscription revenue was $566 million, up 30%, driven by net new customer growth as well as a record high for renewals achievement as a percent of the original contract value, a clear benefit of our consistently high levels of customer satisfaction. The Q2 professional services revenue grew 17% to $106 million. Total revenue outside the US was up 48% to $156 million, representing a record 23% of total revenue. Subscription revenue backlog was over $5.5 billion, growth of 26% year-over-year.

In the second quarter, some of the new customers the company added include Eli Lilly and Company, Bridgestone Americas in North America, Siemens Healthineers in Europe, and DBS Bank in the Asia Pacific region. Notable go-lives in Q2 include Humana, Michelin, Samsung, and Target. WDAY also continue to see strong traction in cloud financial management, where the company had over 60% new customer growth in Q2 and also added another new Fortune 500 customer. WDAY now have over 530 financial management customers, including eight in the Fortune 500. In the second quarter, Lufthansa, Kemper Corporate Services, and Horizon Healthcare Services are a few of the many new customers who selected Workday for core financial management. Also, and equally important, the company had several customers go live in financial management in Q2 including Continental, Casualty Company, and Advantis Healthcare.

For the third quarter, WDAY expects subscription revenue to be in the range of $609 million to $611 million, while analysts expect $586.5 million. The company also raised its subscription outlook for the fiscal year to be in a range of $2.34 billion to $2.35 billion, while analysts had forecast $2.29 billion.