Shares are down 33% year to date-and they’re off nearly 80% from an October 2020 peak.Īt one point during the pandemic, Zoom posted a string of three straight quarters with revenue growth north of 350%, as adoption of the company’s videoconferencing platform soared. Zoom stock, which soared as the Covid-19 pandemic arrived in early 2020, have cratered in recent months as investors switched their sights from stay-at-home plays to reopening bets. Shares were down 1% in after hours trading Monday.įor the January 2023 fiscal year, the company sees revenue of $4.53 billion to $4.55 billion, up about 11%, with non-GAAP profits of $3.45 to $3.51 a share, well below a Wall Street estimate of $4.71 billion, up 15.5%, with profits of $4.36 a share, down from an estimated $4.85 for fiscal 2022.įor its just completed fiscal year, Zoom posted revenue of $4.1 billion, up 55%. Previous Wall Street consensus had called for revenue of $1.095 billion, with profits of $1.03 a share. Zoom is now projecting revenue of $1.07 billion to $1.075 billion, with non-GAAP profits of 86 to 88 cents a share, well below previous Wall Street estimates. Wall Street analysts surveyed by FactSet had projected revenue of $1.054 billion and profits of $1.07 a share.īut the outlook for the April quarter was below expectations.
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