Slack Falls After Projecting Slower Second-Half Sales Growth
- Software company added 75 large customers from previous period
- Net loss widened to $360 million in first report after listing
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Slack Technologies Inc. shares plunged in extended trading after projecting slower sales growth for the second half of the year, a signal that strong competition may dent the software maker’s rapid rise.
Revenue will be $154 million to $156 million in the fiscal third quarter, reflecting a year-over-year increase of 46% to 48%, the San Francisco-based company said Wednesday in a statement. Analysts, on average, estimated $154.2 million, according to data compiled by Bloomberg.