Stock Alert: Slack Technologies Declines 14%

(RTTNews) - Shares of business communication platform Slack Technologies, Inc. (WORK) are down more than 14% Wednesday morning at $25.08. It has been trading in the range of $15.10- $40.07 in the past 52 weeks.

Tuesday, Slack reported second-quarter results with revenue growth of 49% year-over-year to $215.9 million, in line with the last two quarters.

The company's revenue growth, though steady, hasn't been showing a sharp increase in the midst of the pandemic.

Slack reported adjusted loss of $0.00 in the second quarter, which beat the average estimate of analysts polled by Thomson Reuters at $0.03 loss per share.

Revenue for the quarter increased 49% year-over-year to $215.9 million.

For the third quarter, Slack Technologies expects revenue in the range of $222 million to $225 million and adjusted loss per share in the range of $0.06 to $0.05. Analysts expect loss of $0.05 per share on revenue of $223.73 million for the quarter.

For the full-year, revenue is expected in the range of $870 million to $876 million and adjusted loss per share in the range of $0.14 to $0.13. The consensus estimate for revenue is $872.34 million and for earnings is $0.16 loss per share.