Asana Inc.’s
X,
+0.18%
inventory initially plunged 14% in prolonged buying and selling Thursday after the software program firm led by Meta Platforms Inc.
FB,
-0.07%
co-founder Dustin Moskovitz reported fiscal third-quarter outcomes. Asana reported a internet lack of $69.3 million, or 37 cents a share, in contrast with a internet lack of $73.3 million, or 65 cents a share, within the year-ago quarter. Revenue climbed 70% to $100.3 million from $58.9 million a yr in the past. Analysts surveyed by FactSet had anticipated a lack of 27 cents a share on income of $93.9 million. Asana additionally provided fiscal 2022 income steering of between $371 million and $372 million, above FactSet estimates of $359.5 million. Shares of Asana have soared 208% this yr, whereas the broader S&P 500 index
SPX,
+1.42%
has gained 22%.