Contest Trader

Don't miss the chance to cash-in prizes totaling

$10.000
Register here for the Ultimate demo trading competition

The pandemic was beneficial to Slack revenues

The pandemic was beneficial to Slack revenues

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 news here!

Sources: cnbc.com, marketwatch.com

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com