Low result: THE WORK TEAM drops by 21% despite Q4 being estimated

<p>Slack (NYSE: WORK) results for fiscal policy fourth quarter 2020 have WORKING STOCKS that strike after the evening of Thursday. This follows a loss of -4 cents per share and revenue of $ 181.9 million. These are both better than Wall Street‘s estimates of -5 cents per share and $ 174.14 million.

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Let us now take a closer look at the latest report on Slack results.

Adjusted losses per share are 83.33% better than -24 cents from the same period last year. Revenue is 49.14% higher than $ 121.97 million in the fourth quarter of 2019. Operating profit of – $ 91.19 million is 109.92% worse than the year before – $ 43.44 million. The Slack earnings report also includes a net loss of – $ 89.09 million. That’s a 157.19% wider net loss than – $ 34.64 million reported over the same period last year.

Stewart Butterfield, founder and CEO of Slack, said this about WORK share income:

“We continue to see significant momentum in our business and ended the year with 70 customers who spent more than $ 1 million annually on Slack, an increase of 79% over the previous year. When the transition from the e-mail channel based messaging platforms continue choose the largest companies worldwide to standardize on Slack because of our scalability, security, open platform, ease of use and innovative roadmap. ”

The Slack earnings report also includes its fiscal guidance for 2021. This expects adjusted losses per share of -21 cents to -19 cents on revenue of $ 842 million to $ 862 million. The Wall Street estimate is for losses of -21 cents on revenue of $ 854.45 million.

THE LABOR ACT closed the day 9.61% lower and fell 20.56% after Thursday.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/slack-earnings-drop-work-stock/.

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