![]() ![]() Today’s poor earnings report brings with it heavy trading of ZM stock. We have implemented initiatives focused on driving new Online subscriptions, which have shown early promise but were not enough to overcome the macro dynamics in the quarter.” “The headwinds we saw mainly relate to the strengthening dollar, new Online subscriptions, and to a lesser extent bookings linearity. ![]() Kelly Steckelberg, CFO of Zoom, said the following in the company’s earnings report: That’s also below analysts’ revenue estimate of $4.54 billion for the year. To go along with that, Zoom’s revenue outlook fiscal full-year 2023 is between $4.385 billion and $4.395 billion. ![]() That doesn’t look good next to Wall Street’s estimate of $1.15 billion for the quarter. The company expects revenue to range from $1.09 billion to $1.1 billion during the period. The outlook for Q3 fiscal 2023 is not helping ZM stock today either. That’s despite its adjusted EPS decreasing 23% from the $1.36 in Q2 fiscal 2022. That’s a shame, as the company’s adjusted earnings per share (EPS) of $1.05 did beat analysts’ estimate of 93 cents per share. However, it did still represent an 8% increase compared to the $1.02 billion reported in the same period last year. ![]() The bad news for ZM stock mainly comes from its revenue of $1.1 billion, which missed Wall Street’s estimate of $1.12 billion. Zoom (NASDAQ: ZM) stock is taking a beating on Tuesday after the video communications company released results for the second quarter of fiscal 2023. ![]()
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