Shares fall 6% after disappointing results
- Asana’s stock dropped 6% after reporting quarterly results
- Quarterly net loss of $61.8 million
- Adjusted net loss of 4 cents a share
- Revenue of $166.5 million, beating expectations
- Shares of Asana have soared 69% this year
Asana Inc. reported a net loss of $61.8 million in the fiscal third quarter, causing a 6% drop in the company’s stock. The adjusted net loss was 4 cents a share. However, revenue exceeded expectations at $166.5 million. As a result, shares of Asana have seen a significant increase of 69% this year.
Public Companies: Asana Inc. (ASAN), S&P 500 index (SPX)
Private Companies:
Key People:
Factuality Level: 8
Justification: The article provides specific financial information about Asana’s quarterly results, including net loss, adjusted net loss, and revenue. It also mentions the expectations of analysts surveyed by FactSet. The article does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. The reporting is objective and based on factual information.
Noise Level: 7
Justification: The article provides relevant information about Asana Inc.’s stock drop and quarterly results. However, it lacks in-depth analysis, antifragility considerations, and accountability of powerful people. It does support its claims with data and includes the expected results from analysts. Overall, the article is focused and provides some insights, but it could have been more comprehensive.
Financial Relevance: Yes
Financial Markets Impacted: Asana Inc.’s stock
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of Asana Inc. and its impact on the stock market. There is no mention of an extreme event.
www.marketwatch.com 
