News

Zoom Stock Exceeds Expectations

1 Mins read

Financial Performance

  • Fourth-Quarter Results: Zoom reported a net income of $298.8 million or 95 cents per share for the fiscal fourth quarter, with revenue totaling $1.15 billion – showing growth from the previous year’s $1.12 billion.

  • Adjusted Earnings: After considering stock compensation and other factors, Zoom’s earnings stood at $1.42 per share, surpassing Wall Street analyst expectations.

  • Strong Forecasts: The company provided a first-quarter forecast of $1.18 to $1.20 per share for adjusted earnings and around $1.125 billion in revenue, outperforming market estimates.

CEO Statement

Zoom’s Chief Executive, Eric Yuan, emphasized their commitment to democratizing accessibility to AI for all customers, irrespective of business size, without any additional charges – a move reflecting their dedication to customer service.

Market Response

Following the results announcement, Zoom’s stock price surged over 13% in after-hours trading. Despite a 14% decrease in the stock price over the last year, it has fared better compared to the broader S&P 500 index, which has seen a 27% increase during the same period.

Competition and Resilience

Despite facing competition from industry giants like Microsoft, Cisco Systems, and Alphabet’s Google, Zoom has managed to maintain its position through a consistent rollout of innovative products and services for its customers.

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