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Wed, July 15 at 7:00PM ET

Slack Earnings: WORK Stock Falls 21% Despite Beating Q4 Estimates

WORK beat EPS and revenue estimates

Slack (NYSE:WORK) earnings for fiscal fourth quarter of 2020 have WORK stock taking a beating after-hours Thursday. This follows losses per share of -4 cents and revenue of $181.9 million. These are both better than Wall Street’s estimates of -5 cents per share and $174.14 million.

Slack Earnings: WORK Stock Falls 21% Despite Beating Q4 Estimates
Source: Sundry Photography /

Now, let’s take a closer look at the most recent Slack earnings report.

  • Adjusted losses per share are 83.33% better than the -24 cents from the same period of the year prior.
  • Revenue is sitting 49.14% higher than $121.97 million in the fiscal fourth quarter of 2019.
  • Operating loss of -$91.19 million is 109.92% worse year-over-year than -$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 the -$34.64 million reported during the same time last year.

Stewart Butterfield, co-founder and CEO of Slack, said this about the WORK stock earnings:

“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. 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.”

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

WORK stock closed the day 9.61% lower, and was down 20.56% after-hours Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

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