ASAN - Asana shares fall 16% even as results top forecasts

Asana's (NYSE:ASAN) third-quarter results weren't good enough for the company's investors, who sent the work-management software company's shares deep into the red in after-hours trading, Thursday. Asana (ASAN) shares fell by more than 16%, despite the company reporting a third-quarter loss of 23 cents a share, excluding one-time items, on $100.3 million in revenue. It was the first time the company's quarterly sales surpassed $100 million. The results surpassed the estimates of Wall Street analysts, who forecast Asana (ASAN) to lose 27 cents a share on $94 million in revenue. For its fourth quarter, Asana expects to lose between 27 cents and 28 cents a share, on revenue in a range of $104.4 to $105.5 million.Asana (ASAN) is probably best-known for being founded by Facebook (NASDAQ:FB) co-founder Dustin Moskowitz, who serves as Asana's (ASAN) chief executive.

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Asana shares fall 16% even as results top forecasts