Skip to main content

Market Overview

Slack's Stock Plummets Despite Q4 Earnings Beat

Slack's Stock Plummets Despite Q4 Earnings Beat

Slack Technologies (NYSE: WORK) shares were trading sharply lower on Thursday after the company reported fourth-quarter earnings results.

The company reported quarterly losses of 4 cents per share, which beat the analyst consensus estimate by 20%. The company reported quarterly sales of $181.9 million, which beat the analyst consensus estimate of $174.14 million by 4.46%.

See Also: Piper Sandler Remains Bullish On Slack On Broader Enterprise Adoption

Slack sees first-quarter adjusted earnings at a loss of 7-6 cents versus the estimate of a 7-cent loss, sales at $185-$188 million versus the $188.37 million estimate.

"We continue to see significant momentum in our enterprise business and finished the year with 70 customers spending more than $1 million annually on Slack, up 79% year-over-year," said Stewart Butterfield, CEO and Co-Founder at Slack. "As the shift from email to channel-based messaging platforms continues, the largest companies around the world are choosing to standardize on Slack because of our enterprise-grade scalability, security, open platform, ease-of-use and innovative roadmap."

Slack shares were down 22% at $16.56 in Thursday's after-hours session. The stock has a 52-week high of $42 and a 52-week low of $19.53.


Related Articles (WORK)

View Comments and Join the Discussion!

Posted-In: Earnings News After-Hours Center Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at