Shares of Zoom Video Communications Inc. rose 3% in the extended session Wednesday after the communications technology company reported better-than-expected quarterly earnings, saying it attracted more revenue from its biggest customers and its online business kept up.
Although the revenue and EPS for Zoom Video (ZM) give a sense of how its business performed in the quarter ended July 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Zoom reported July quarter revenue of $1.16 billion. That's up just 2% from last year's July quarter.
Zoom Video Communications (ZM) came out with quarterly earnings of $1.39 per share, beating the Zacks Consensus Estimate of $1.21 per share. This compares to earnings of $1.34 per share a year ago.
Zoom Video reported Q2 earnings that topped estimates as enterprise sales growth beat views. Revenue guidance came in above views.
Zoom Video Communications raised its annual revenue forecast on Wednesday, driven by strong demand for its AI-powered collaboration tools deployed in hybrid work models, sending its shares up 4% in extended trading.
This pandemic darling has continued growing long after the economic reopening.
Zoom Video (ZM) upgrades its Zoom Webinars with a single-use webinar offering, which can host up to one million attendees.
Cathie Wood's Ark Invest made headlines by offloading 161,836 shares of Zoom Video Communications Inc. ZM just ahead of the company's second quarter earnings report.
Amid the emergence of generative AI, new corporate products and services could boost Zoom stock but Microsoft looms.
Zoom's stock underperformance is due to concerns about growth and the company's market position compared to competitors like Microsoft Teams. Despite attempts to diversify product offerings, revenue growth has not quite yet materialized, leading to bearish investor sentiment. I think sentiment is changing however. Analysts are beginning to revise earnings estimates upward, indicating potential undervaluation and a strong buy opportunity for Zoom shares.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Zoom Video (ZM), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended July 2024.