News Formal

Slack stock is down 12% after its first-ever earnings as a public company, in which it posted a big loss — including $8 million in credits to customers after outages

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Slack beat Wall Street's expectations, but its stock plunged. Slack CEO Stewart Butterfield says the company is investing in monitoring for outages.

Slack announced its first-ever earnings on Wednesday, and its stock slid 12% in after-hours trading. The good news: Slack's revenue grew 58% from this time last year, up to $145 million. The less-good news: It posted a net loss of $359.6 million, and projects wider-than-expected losses for the next quarter, too. Slack also revealed that it spent $8.

Slack announced its first-ever earnings on Wednesday, and its stock slid 12% in after-hours trading. The good news: Slack's revenue grew 58% from this time last year, up to $145 million. The less-good news: It posted a net loss of $359.6 million, and projects wider-than-expected losses for the next quarter, too. Slack also revealed that it spent $8.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

DanTakhar Somebody tell SlackHQ that cross-region VPC peering is a thing...

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in BUSİNESS

Business Business Latest News, Business Business Headlines