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Slack Technologies Inc (NYSE:WORK) reported a second-quarter loss per share of 14 cents on Wednesday, beating Street expectations for an 18-cent loss.
Sales of $145 million beat a $140.72-million estimate.
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The workplace software company guided to a third-quarter loss per share of 8-9 cents versus a Street estimate of a 7-cent loss. Slack guided to third-quarter sales of $154-$156 million versus a $153.2-million estimate.
For fiscal 2020 as a whole, Slack is projecting an adjusted EPS loss of 40-42 cents per share and sales of $603 million to $610 million against a $600.9-million Street estimate.
Wednesday's earnings report is Slack's first as a public company since its June IPO.
“Revenue growth was 58% year-over-year, despite a one-time revenue headwind from credits issued in the quarter related to service level disruption,” Chief Financial Officer Allen Shim said in a statement.
“We remain focused on expansion within existing customers and growing our large enterprise customer base, and ended the quarter with 720 paid customers greater than $100,000 in annual recurring revenue, which is up 75% year-over-year.”
Slack shares gained 8.03% in Wednesday's regular trading session, but were falling by 12.46% to $27.20 in after-hours trading at the time of publication.
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Photo courtesy of Slack.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.