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Asana Q3 results beat, but cuts guidance on wobble in global economy

By Yasin Ebrahim

Investing.com -- Asana cut its annual revenue guidance Thursday despite reporting better-than-expected third-quarter results as the weaker macroeconomic backdrop continued to weigh on performance.

Asana (NYSE:ASAN) fell 13% in afterhours trading following the report.

The work management platform company reported adjusted loss per share of $0.26 on revenue of $141.4 million, beating estimates for a loss of $0.33 on revenue of $139.0M.

The number of customers spending $100,000 or more on an annualized basis was up 78%

Looking ahead, the company cut its outlook on revenue to a range of $541.0M to $543.0M from $544.0M to $547.0M previously. Adjusted loss per share was forecast in the range of $1.15 to $1.14.

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