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Slack Shares Optimistic Figures as People Rely on Remote Work Tools During COVID-19 Pandemic

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Slack Shares Optimistic Figures as People Rely on Remote Work Tools During COVID-19 Pandemic

Slack Technologies Inc. has posted record sales. A recent report for the second quarter of the fiscal year 2021 showed this.

According to Fox Business, the app has “benefited from the shift to remote working that has lifted the fortunes of many business software companies.”

On Tuesday, Slack reported that the total revenue was $215.9 million, which is an increase of 49% year-over-year. Additionally, calculated Billings was $218.2 million, which is an increase of 25% year-over-year.

It has “87 Paid Customers with greater than $1 million in annual recurring revenue,” as per the report. This is “up from 49 year-over-year.”

“Paid Customer growth — which is the single most important driver of the business over the long term — accelerated again in Q2, up 30% year-over-year,” said Stewart Butterfield, Chief Executive Officer and Co-Founder at Slack.

“In a volatile macro environment, we remain focused on investing for long-term growth and driving innovation in this category,” said Allen Shim, Chief Financial Officer at Slack. “Our largest customers are standardizing their work on Slack,” he also stated. He then noted that “we ended the quarter with 87 Paid Customers spending over $1 million annually, up 78% year-over-year.”

The COVID-19 pandemic has caused millions of people to work from home and rely on companies that enable remote cooperation.

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