Slack: Fiscal 1Q Earnings Snapshot

SAN FRANCISCO (AP) — Slack Technologies Inc. (WORK) on Thursday reported a loss of $75.2 million in its fiscal first quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 13 cents. Losses, adjusted for stock option expense and amortization costs, came to 2 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.

The work messaging service posted revenue of $201.7 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $187.4 million.

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For the current quarter ending in July, Slack expects its results to range from a loss of 4 cents per share to a loss of 3 cents per share.

The company said it expects revenue in the range of $206 million to $209 million for the fiscal second quarter.

Slack expects full-year results to range from a loss of 19 cents per share to a loss of 17 cents per share, with revenue ranging from $855 million to $870 million.

Slack shares have risen 69% since the beginning of the year.

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Elements of this story were 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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This story has been updated to correct that the company’s current quarter ends in July, not August.

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