Article Hero

The pandemic was beneficial to Slack revenues

1599654239.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
14 settembre 2020
Slack reported a 50% revenue increase

Slack, competitor of Microsoft and Zoom, posted its #Q2 figures. Despite showing an improvement over last year, Wall Street wasn’t impressed. 

Slack, who is specialized in business communication, providing chat rooms organized by topic, private groups, and direct messaging, benefited from the COVID-19 pandemic. For the second quarter, it reported losses of $74.8 million, a significant improvement from last year's $360 million loss.

After adjustments, the company reported break-even earnings per share, also an improvement from the 14 cents loss per share (LPS) published last year. On average, analysts were looking for an adjusted loss of 3 cents/share on sales of $209.1 million. Slack had sales of $215.9 million in Q2.

Compared to last year’s figures, the revenue increased by 50% coming in at $215.9 million, above the $209.1 million forecasted.

For Q3, Slack is looking for an adjusted loss per share of 6 cents, with sales of $225 million. At a yearly level, it expects an LPS of 14 cents, and sales of $876 million. 

Slack stock price fell 15% following the report. So far this year, it gained 30%, while USA500 added 3%.

Read more about how Microsoft and Zoom performed in Q2!

Sources: cnbc.com, marketwatch.com


disclaimers_articles

article_share_title

article_rating_title

awful
ok
great
awesome

read_more

Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

Miguel ha lavorato per importanti istituzioni finanziarie, come Banco Santander e Banco Central-Hispano. È autore di libri sul trading di valuta con diverse pubblicazioni alle spalle.