Slack revenue growth fails to impress, shares tank

Slack and Amazon partner to take on Microsoft Teams

Slack and Amazon partner to take on Microsoft Teams

Amazon AppFlow integration with Slack: The new Amazon AppFlow integration for Slack enables users to securely transfer data between Slack and AWS services like Amazon Simple Storage Service (Amazon S3) and Amazon Redshift, simplifying tasks such as analyzing trends in customer engagement from helpdesk requests or measuring sentiment data. With the Amazon partnership in place, it seems highly unlikely now that Slack will turn to Microsoft's Azure or Google Cloud for collaboration.

AWS Key Management Service with Slack Enterprise Key Management (EKM): For EKM, Slack leverages AWS's proven security services, including AWS Key Management Service for distribution and control of cryptographic keys. Slack and AWS will also extend product integration and deepen interoperability to help developer teams manage their AWS resources in Slack channels and Amazon Chime chat rooms with greater flexibility.

Amazon is also planning to roll out Slack to most of its employees as part of the deal in an enterprise-wide agreement.

Prior to this announcement, Slack's largest customer was IBM, which has more than 350,000 employees.

With 173 new COVID-19 cases, Odishas tally rises to 2781
Maharashtra recorded 139 deaths on Friday - highest in a single day so far - while 2,436 persons tested positive for COVID-19. The Philippines' well being ministry reported seven new coronavirus deaths and 714 further infections.

In a recent SEC filing, Slack said that the Microsoft Corporation is its "primary competitor". With Amazon's backing and Chime technology, Slack could bring much needed improvements and become more than just another chat app or service in the days to come. For one, the largely business-centric communication platform will fully embrace Amazon Web Services (AWS), going forward, in addition to switching to Amazon Chime for voice and video calling. Slack CEO Stewart Butterfield touched on the value of the integration in a wide-ranging interview on The Vergecast last month. Additionally, AWS has agreed to use Slack to simplify the way teams at AWS communicate and work together. Slack reported its earnings today, revealing significantly more than 122,000 paid clients, an increase of 28 per cent year over year.

The proprietary business communication company is benefiting from the national work-from-home shift resulting from an attempt to stem the COVID-19 pandemic.

In Slack's report after the bell, analysts on average expect a 39.5% jump in quarterly revenue to $188 million and a non-GAAP loss of 6 cents per share, according to Refinitiv.

"We believe the long-term impact the three months and counting of working from home will have on the way we work is of generational magnitude", Butterfield said in a statement announcing the results. "This will continue to catalyze adoption for the new category of channel-based messaging platforms we created and for which we are still the only enterprise-grade offering".

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.