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Workday shares spike after subscription sales rise

Workday co-founders and co-CEOs Aneel Bhusri (left) and Dave Duffield (center) applaud their company's first trade after their IPO at the New York Stock Exchange on Oct. 12, 2012.
Brendan McDermid | Reuters

Shares of Workday climbed 7 percent Thursday after the enterprise software company reported an increase in subscriber revenue.

Revenue from subscription services rose nearly 37 percent year over year to $306 million in the fiscal second quarter, the company said in its earnings release late Wednesday.

"Looking ahead, we anticipate third-quarter subscription revenues to be within a range of $331 to $333 million and third-quarter total revenues to be $398 to $400 million," CFO Robynne Sisco said in a statement.