Slack Technologies, Inc. (WORK) Predicts Large Loss for Next Quarter
On September 4, 2019, in its first earnings report since going public in June 2019, Slack reported a GAAP operating loss of $363.7 million for its second quarter fiscal year 2020, $330 million more than its $33.7 million loss in the second quarter of fiscal year 2019. The financial report also went on to predict another significant loss – wider than Wall Street expectations – for third quarter fiscal year 2020. Slack’s stock opened at $26.47 the next day, a drop of 31% from its initial June 2019 trading price of $38.62.