Slack Drops on Forecast Miss, But CEO Sees Coronavirus Boost
- Shares plunge 20% on disappointing quarterly sales projection
- Butterfield says there’s a ‘surge’ of interest due to outbreak
Photographer: Noah Berger/AFP via Getty Images
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Slack Technologies Inc.’s shares plunged after the company forecast disappointing quarterly sales, signaling that stronger competition from Microsoft Corp.’s rival workplace-communications tool has taken a toll on the software maker.
Still, Chief Executive Officer Stewart Butterfield said the migration of corporate employees forced to work from home because of the coronavirus is generating a “surge” of interest in the platform.