Slack stock falls over 12% after first earnings report since going public

Slack Technologies Inc. shares tumbled 12% in the extended session Wednesday after the communications company reported second-quarter results that exceeded Wall Street estimates but forecast a slightly larger-than-expected loss for its current quarter. Slack reported a non-GAAP loss of 14 cents a share. Revenue improved 58% to $145 million. Analysts surveyed by FactSet had expected a loss of 19 cents a share on revenue of $141.3 million. For the year, FactSet is predicting a loss of 42 cents a share on revenue of $600.6 million. Slack, which went public in June, closed up 8% at $31.01 a share in regular trading Wednesday. The S&P 500 index has gained 17% this year.

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