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Workday's CEO says turmoil with Oracle's acquisition of NetSuite helped bolster a historic quarter

Workday's CEO on historic quarter

Workday proved that its momentum of sales continued to gain strength when it reported fourth-quarter earnings on Monday. The company's CEO Aneel Bhusri said that Oracle's acquisition of NetSuite helped bolster the best quarter in history for Workday.

"We saw quite a bit of turmoil within the NetSuite customer base, and I think it's only at the beginning. My guess is that most of the NetSuite management team will be gone in 12 to 18 months," Bhusri told "Mad Money" host Jim Cramer on Monday.

"And so most of those companies chose not to do business with Oracle. I think they might come back to market and create an opportunity for Workday."

Oracle announced it would purchase cloud storage company NetSuite in 2016 for $9.3 billion in a move to ramp up competition in the cloud.

Watch the full segment here:

Workday's CEO says turmoil with Oracle's acquisition of NetSuite helped bolster a historic quarter

Bhusri explained that since Workday holds "such a dominant share" in the HR space, many times when an acquisition occurs, if the acquirer or the company being acquired uses Workday, the joint company will become a customer as well. He confirmed that right now the company is assisting Dow Chemical, which was recently acquired by DuPont, with strategic moves.

In its earnings report for the quarter ended Jan. 31, Workday reported 7-cents earnings per share (vs. a loss of $0.01 per share a year ago), on revenue of $437 million (up 35% from the year-ago quarter's figure of $323 million). Analysts were expecting a loss of 1-cent per share, and the stock dropped about 3 percent after hours.

Bhusri explained Workday had a slow October and November, and then business bounced back quickly in December and January. The company also picked up new customer wins such as Wal-Mart, Amazon and Deutsche Bank in Germany.

With Amazon set to create more than 100,000 jobs in the U.S. in the next year and a half, Bhusri expects Workday expects help bring on the new employees at Amazon once the platform goes live in 12 to 15 months.

Workday is a provider of cloud-based applications for human capital management, financial management, payroll, time tracking and employee expense management.

Correction: This story was updated to reflect that Workday reported 7-cents earnings per share for the fourth quarter.

Oracle did not immediately respond to CNBC's request for comment.

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