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Zoom share less after balance sheet view: Zoom increases sales and profits |  08/30/21

Zoom share less after balance sheet view: Zoom increases sales and profits | 08/30/21

Zoom Video Communications, the video conferencing provider, has just opened its books for the last fiscal quarter.

Zoom Video Communications posted solid gains on the profit side in the second quarter of its business year. Earnings per share rose from $0.920 to $1.36, well above analyst expectations ($1.165).

Revenue also rose sharply in the reporting period: After selling $663.5 million in the same period a year earlier, the company generated $1.02 million in the fourth quarter. Analysts had expected the group in the lead-up to sales of up to 991.2 million US dollars.

For the current third quarter, the company expects earnings per share between $1.07 and $1.08, which is slightly below analysts’ estimates. Sales are expected to be slightly higher than experts’ forecasts of $1.015 billion and $1.020 billion.

Zoom’s stock appears on the Nasdaq after-hours trading session and meanwhile lost 6.22 percent to $325.87.

Finanzen.at Editors

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