Slack Technologies (NYSE: WORK) reported a narrower loss for the first quarter of 2021, aided by a 50% growth in revenues. The results also exceeded the market’s projection. Meanwhile, the company’s stock dropped on Thursday evening, following the announcement.
The corporate communications app reported an adjusted loss of 2 cents per share for the April-quarter, compared to a loss of 23 cents per share last year. Analysts were looking for a wider loss.
The improvement reflects a 50% growth in revenues to $202 million, which also topped the Street view. On an unadjusted basis, net loss was $75.2 million or $0.13 per share, compared to a loss of $33.3 million or $0.26 per share in the first quarter of 2020.
Shares of Slack, which closed Thursday’s regular session lower, continued to lose during the extended session.
Micron Technology Inc. (NASDAQ: MU) reported third quarter 2022 earnings results today. Revenue increased 16% year-over-year to $8.64 billion. GAAP net income was $2.63 billion, or $2.34 per share, compared
Shares of Constellation Brands Inc. (NYSE: STZ) were down 4% on Thursday despite the company beating expectations on its first quarter 2023 earnings results. The stock has dropped 7% year-to-date.
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