StockWorld News

Zoom stock soared 20% after-hours on Q1 results

Zoom stock soared 20% after-hours on Q1 results

Ad disclosure

Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >

By:

Wajeeh Khan

on
May 23, 2022

Zoom Video Communications reports strong results for its fiscal Q1.

The video conferencing company also raised its full-year guidance.

Zoom stock jumped roughly 20% in after-hours trading on Monday.

Zoom Video Communications Inc (NASDAQ: ZM) stock jumped 20% in extended trading after the video conferencing company reported solid Q1 results and raised its guidance for the full year.

Key takeaways from Zoom Q1 earnings report

Net income printed at $113.6 million versus the year-ago figure of $227.4 million.Per-share earnings of 37 cents were significantly below last year’s 74 cents.On an adjusted basis, EPS stood at $1.03 in the recent financial quarter.Revenue went up 12% YoY to $1.07 billion, as per the earnings press release.FactSet consensus was for 88 cents of adjusted EPS on $1.07 billion in revenue.Operating margin was 17.4% and Zoom Phone reached 3 million seats in Q1.

The San Jose-headquartered company noted a 24% increase in Enterprise customers. ZM is still down more than 40% for the year.


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Zoom Video Communications’ outlook for fiscal 2022

For fiscal 2022, Zoom now forecasts its earnings to fall between $3.70 and $3.77. It expects up to $4.55 billion in revenue this year. In comparison, analysts had called for $3.60 of EPS on roughly the same revenue.

Zoom’s Q2 guidance was slightly better-than-expected as well. In the earnings press release, CEO Eric Yuan said:

In Q1, we launched Zoom Contact Centre, Zoom Whiteboard, and Zoom IQ for Sales, demonstrating our continued focus on enhancing customer experience and promoting hybrid work. We believe these innovative solutions will further expand out market opportunity for future growth and expansion with customers.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker,
eToro

10/10

68% of retail CFD accounts lose money

Visit site

Industries


North America


Stocks & Shares


Technology


USA


World