Slack (WORK) stock tanks on weak guidance


Slack shares plunged in extended trading on Thursday after the maker of messaging software provided a disappointing forecast for the fiscal first quarter, citing uncertainty surrounding the coronavirus.

The stock sank more than 20% to $17.03. That adds to an almost 10% drop during regular trading, as the shares fell alongside the broader market, which had its worst day since 1987.

Slack said revenue in the quarter ending in April will be $185 million to $188 million, trailing the $188.4 million average analyst estimate, according to a survey by Refinitiv.

Here are the key numbers for the latest quarter:

  • Earnings: Loss, excluding certain items, of 4 cents, vs. loss of 5 cents as expected by…

Source cnbc.com

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