Workday, Inc. (NASDAQ: WDAY), a company providing cloud-based software for organizations to manage and plan finance and human resources, reported strong Q2 earnings, beating consensus estimates, with commentary suggesting that demand is improving across both HR and financials. Subscription revenue grew 19.5% y/y to $1.11 billion, pushing the total revenue to $1.26 billion. EPS grew 41% q/q to $1.23.

Management raised its guidance for FY2022, with a yearly revenue estimate of $4.51 billion, which represents a 19% increase compared to the previous year.

The company’s co-CEO Chano Fernandez mentioned that Workday business is growing, driven by accelerating demand from large enterprise customers.

According to the analysts at Oppenheimer the company has been a disruptive force in the HCM market over the years and has leveraged its platform to drive TAM expansion both within its core HR market and more broadly in ERP.