Slack stock falls as much as 20% after it reported earnings that show slowing growth and weaker guidance than expected
Slack's stock fell as much 20 percent in after-hours trading, after it reported fourth quarter results.
It reported quarterly revenue of $181.9 million — an increase of 49 percent from a year prior, and above analyst estimates. However, the quarter before that, its revenue grew 60 percent, signalling a possible revenue slowdown.Slack's stock fell as much as 20% percent after reporting fourth quarter results that beat expectations — but giving lower than expected guidance for the next quarter, even as it shows signs of slowing growth.
However, the company's guidance for the next quarter was lighter than expected, with the company forecasting revenues of between $185 to $188 million, whereas Wall Street was predicting $188.4 million. It also said that it expects its net loss per share for the next quarter to be between $0.07 to $0.06, more in line with the $0.07 analysts expected.
Dan Ives, an analyst at Wedbush, said that "billings guidance was soft and this will be a gut punch to the bull thesis."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Dow plunged into a bear market in just 20 days — the fastest 20% plunge in history - Business InsiderPast bearish declines took 255 sessions on average, Michael Batnick, director of research at Ritholtz Wealth Management, wrote in a Monday blog post.
Read more »
'Gilmore Girls' Premiered Almost 20 Years Ago, So Here's What The Cast Is Up To NowAll these reunion selfies are making me so nostalgic!
Read more »
The dotcom bubble crash was 20 years ago today—could it happen again?The world is a very different place than it was in the late 90s, and the well-established tech firms of today are unlikely to face the same pitfalls as their digital ancestors. But not all are safe.
Read more »
20 Ways Kate Middleton Is Such a Boy MomKate Middleton was made to be a mom to her sons.
Read more »
20 Small Quote Tattoos That Are Tiny But MightyTattoo inspiration for anyone looking to get a meaningful word or two inked on their body.
Read more »
20 Things That Really And Truly Work On Cystic AcneGet ready for major before-and-afters.
Read more »