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SAN FRANCISCO (AP) — Slack Technologies Inc. (WORK) on Thursday reported a loss of $89 million in its fiscal fourth quarter.
The San Francisco-based company said it had a loss of 16 cents per share. Losses, adjusted for stock option expense and amortization costs, were 4 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The work messaging service posted revenue of $181.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $173.1 million.
For the year, the company reported a loss of $571.1 million, or $1.43 per share. Revenue was reported as $630.4 million.
For the current quarter, Slack expects its results to range from a loss of 7 cents per share to a loss of 6 cents per share.
The company said it expects revenue in the range of $185 million to $188 million for the fiscal first quarter.
Slack expects full-year results to range from a loss of 21 cents per share to a loss of 19 cents per share, with revenue ranging from $842 million to $862 million.
Slack shares have dropped 5% since the beginning of the year.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WORK at https://www.zacks.com/ap/WORK
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