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Asana's stock drops 14% on wider loss despite 70% jump in sales

·1 min read
Asana's stock drops 14% on wider loss despite 70% jump in sales
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  • ASAN
  • ^GSPC

Asana Inc.'s stock initially plunged 14% in extended trading Thursday after the software company led by Meta Platforms Inc. co-founder Dustin Moskovitz reported fiscal third-quarter results. Asana reported a net loss of $69.3 million, or 37 cents a share, compared with a net loss of $73.3 million, or 65 cents a share, in the year-ago quarter. Revenue climbed 70% to $100.3 million from $58.9 million a year ago. Analysts surveyed by FactSet had expected a loss of 27 cents a share on revenue of $93