Slack Technologies Shares Fall Before Earnings Report and Express Shares Tank Despite Earnings Beat
On Thursday, shares of Slack Technologies fell slightly, closing down 0.14%.
Shares of the American international software company fell before reporting its first-quarter earnings.
The company reported earnings of $0.08 per share on $273 million in revenue, beating analysts’ expectations of earnings of -$0.01 per share on $265 million in revenue. Additionally, the company reported 169,000 paid accounts vs 155,852 as expected by analysts.
In a statement, Slack CEO and co-founder Stewart Butterfield said, “In Q1 we saw a near-record number of Paid Customer additions, a record number of Paid Customers adopting Slack Connect, and approached 1 million active developers on our platform.
Shares of Slack have risen about 3% this year.
On Thursday, shares of Express tanked, closing down 19.51%.
Shares of the American fashion retailer fell after the company reported its first-quarter earnings.
The fashion retailer reported a net loss of $45.7 million, or $0.70 per share. The adjusted loss was $0.55 per share, beating analyst estimates of a $0.58 per share loss. Sales grew 64.4% to $345.8 million, beating analyst estimates of $322.9 million. Same-store sales grew 11%, missing analyst estimates of 59.1%. E-commerce demand grew more than 40%, and factory outlet comps fell 19%.
Shares of Express have skyrocketed over 450% this year.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.