Zoom provides disappointing revenue forecast for first quarter and full year

Monday - 28/02/2022 20:44
Zoom’s revenue growth has slowed as employees started returning to the office and companies eased their purchases of software for remote work.
Victor J. Blue | Bloomberg | Getty Images
Victor J. Blue | Bloomberg | Getty Images

Zoom issued a weaker-than-expected revenue forecast for the first quarter and full fiscal year on Monday. Shares of the video-chat software maker, which posted its fiscal fourth-quarter results, initially sank as much as 13% in extended trading before rebounding.

Here’s how the company did:

  • Earnings: $1.29 per share, adjusted, vs. $1.06 per share as expected by analysts, according to Refinitiv.
  • Revenue: $1.07 billion, vs. $1.05 billion as expected by analysts, according to Refinitiv.

Zoom’s revenue increased 21% from the year-earlier period ended on Jan. 31. That’s a deceleration from 35% growth in the prior quarter, according to a statement.

Read More (...)

Author: Editors Desk

Source:

Total notes of this article: 0 in 0 rating

  Reader Comments

Newer articles

Older articles

You did not use the site, Click here to remain logged. Timeout: 60 second