Slack Technologies Inc forecast lower-than-expected billings for fiscal 2021 on ...
The Slack Technologies Inc. logo is seen on a banner outside the New York Stock Exchange during thew company's IPO in New York, U.S. June 20, 2019. REUTERS/Brendan McDermid
- Slack Technologies Inc forecast lower-than-expected billings for fiscal 2021 on Thursday and saw its expenses soar in the fourth quarter, sending its shares down more than 20% aftermarket. The company said it expects billings of $970 million to $1 billion for fiscal 2021, lower than analysts’ average estimate of $1.02 billion, according to IBES data from Refinitiv.
The office messaging platform’s total operating expenses in the quarter leaped 67% to $248.7 million.This helped the company post revenue of $181.9 million, a 49% rise from a year earlier, above analysts’ average estimate of $174.1 million, according to IBES data from Refinitiv. However, net loss attributable to common stockholders widened to $89.0 million in the fourth quarter ended Jan. 31, from $36.3 million a year earlier.Reporting by Bharath Manjesh in Bengaluru; Editing by Krishna Chandra Eluri
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