Slack revenue growth fails to impress, shares tank

By Manas Mishra (Reuters) - Slack Technologies Inc on Thursday posted slowing quarterly sales growth, disappointing investors who had expected a surge in demand for its workplace messaging app as companies rapidly adopt remote working tools and technology. Slack also withdrew its 2021 billing outlook citing uncertainty driven by the COVID-19 pandemic, and said it had seen sales from some large customers slow down in the worst-affected industries, such as travel, hospitality and ride-sharing. "There's less visibility into how spending will trend for the remainder of the year, particularly if the economic effects of the COVID-19 pandemic persist or worsen," Chief Financial Officer Allen Shim said in a post-earnings call with analysts.

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