The Slack Technologies, Inc. the logo is displayed on a banner outdoors the New York Stock Exchange (NYSE) at the thew company’s initial public OFFERING in New York, New York, USA, 20 June, 2019 at the latest. REUTERS/Brendan McDermid
(Reuters) – Soft Technologies, Inc. forecast lower-than-expected billings for the fiscal 2021 is on Thursday, and saw its costs increase in the fourth quarter, sending its shares up more than 20% of the market.
The company said that it expected to complete the work, from $970 million to $1 billion in fiscal 2021, lower than the analysts ‘ average estimate of $1.02 billion, according to IBES data, Refinitiv.
The office is the messaging platform that the total operating expenses for the quarter jumped 67%, to $248.7 million.
Slack said that it was a more than 110,000-paid users at the end of the fourth quarter, an increase of 25% compared to the previous year.
This has helped the company to post revenue of $181.9 million, a 49% increase from a year earlier, above analysts’ average estimate of $174.1 million, according to IBES data, Refinitiv.
However, the net loss attributable to common shareholders widened to $89.0 million for the fourth quarter ended Dec. 31, from $ 36.3 million for the prior year.
With the exception of the items, the company posted a loss of 4 cents per share.
Report by Bharath Manjesh, Bengaluru; Editing by Krishna Chandra Eluri