Asana Inc (NYSE:ASAN) shares are falling in extended trading Thursday after the company reported second-quarter results and issued soft third-quarter guidance.

• Asana shares are sliding. What’s behind the ASAN decline?

Asana Q2 Highlights

Asana reported second-quarter revenue of $216.43 million, beating analyst estimates of $214.12 million, according to Benzinga Pro. The company reported adjusted earnings of 10 cents per share, beating estimates of nine cents per share.

“Our core business continues to strengthen, with improving retention, accelerating growth in our upmarket motion and broad-based momentum across industries and geographies,” said Dan Rogers, CEO of Asana.

Asana guided for third-quarter revenue of $217 million to $219 million versus estimates of $218.16 million, and adjusted earnings of eight cents per share versus estimates of nine cents per share.

Asana raised its full-year revenue guidance to a range of $858.5 million to $863.5 million versus estimates of $860.90 million. The company reaffirmed its full-year adjusted earnings outlook of 37 cents per share, in line with estimates.

ASAN Shares Fall After Hours

ASAN Price Action: Asana shares were down 12.78% in after-hours, trading at $8.80 at the time of publication Thursday, according to Benzinga Pro.

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