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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

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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.

 

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