Slack channels its way into unenviable company

Workplace-messaging service Slack Technologies on Sept. 4 reported that its net loss for the second quarter of its 2020 fiscal year increased to nearly $360 million, compared to about $32 million in the same period a year ago. Revenue increased by 58% to $145 million and it ended the quarter with more than 100,000 paying customers, reflecting a 37% jump.

Slack also forecast a third-quarter non-GAAP loss of 8 cents to 9 cents a share. The average estimate of sell-side analysts was for a loss of 7 cents a share.

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