Technology

Slack quarterly sales beat expectations as new users grow

Written by corres2

FILE PHOTO: The Slack Technologies Inc. logo is seen on a banner outside the New York Stock Exchange (NYSE) during thew company’s IPO in New York, U.S. June 20, 2019. REUTERS/Brendan McDermid

(Reuters) – Slack Technologies Inc (WORK.N) beat first-quarter revenue estimates on Thursday on strong demand for its workplace messaging app, as companies rapidly adapt to remote work amid social distancing protocols to curb the coronavirus outbreak.

Revenue rose 50% to $201.7 million from a year earlier, above analysts’ average estimate of $188.1 million, according to IBES data from Refinitiv.

However, the company’s withdrew its forecast for calculated billings in fiscal 2021.

Reporting by Neha Malara and Manas Mishra in Bengaluru; Editing by Devika Syamnath


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