Slack shares plunged up to over 17% after the company reported earnings showed that it may not have benefited as much from the remote work boom as Wall Street expected.
Slack’s revenue in the quarter showed 50 percent growth from a from a year prior, barely above the 49 percent growth year-over-year that it saw in the previous two quarters.
Analysts say they expected Slack to see much more of a material impact to its results due to the remote work boom.
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Slack shares dropped up to over 17% after-hours Thursday as the company reported earnings that beat estimates but showed that it may not have benefited as much from the coronavirus-related remote work boom as Wall Street expected.
Slack reported revenue of $201.7 million, which was above analyst expectations of $187 million. However, that represents only 50% growth from a year prior, barely above the 49% growth year-over-year that it saw in the previous two quarters. See the rest of the story at Business Insider
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