Zoom Goes Boom

Shares of the communications technology firm Zoom are rising after fourth-quarter earnings and revenue topped estimates.

Adjusted earnings per share of $1.22 and revenue of $1.12 billion beat the expected $0.81 and $1.10 billion. Annual revenue growth of 4% was its slowest as a public company and well off its pandemic-era highs. πŸ”»

Executives expect growth will continue to slow this year, with Zoom seeing $4.435 to $4.455 billion in revenue, implying 1.1% YoY growth. That’s also slightly below the $4.6 billion expected by analysts.

The company is rolling out additional product features like email and calendar services, a virtual agent chatbot, and more to help it compete in a crowded market and reaccelerate growth. It hopes to become a broader communications platform for business owners.

Cost-cutting efforts are also starting to pay off for the company. It now expects adjusted earnings per share of $4.11 to $4.18 in fiscal 2023, beating the $3.66 consensus estimate. πŸ’ͺ

$ZM shares were 6% on the news but picked up steam during the company’s earnings call, which began at 5:00 pm ET. πŸ“ˆ

More in   Earnings

View All

Dingdong Delivers Poor Results

Chinese fresh grocery e-commerce company Dingdong delivered worse-than-expected results that sent shares tumbling. πŸ”»

Non-GAAP earnings per American depository share of $0.00 aligned with expectations. However, revenues of $727.7 million fell 15.3% YoY and missed consensus estimates by $93.19 million. Gross merchandise value (GMV) of $793.8 million fell 6.8% YoY. πŸ›’

Read It

Shareholders Entertained By MSG Earnings

MSG shareholders are celebrating after it reported better-than-expected results. But first, let’s all get on the same page about how MSG is structured. ⏸️

Madison Square Garden Sports Group ($MSGS) is the leading professional sports company that owns the New York Knicks and New York Rangers. It also owns two development league teams and operates a professional sports team performance center. Meanwhile, Madison Square Garden Entertainment Corp ($MSGE) is a leader in live entertainment. It owns world-renowned venues like New York’s Madison Square Garden and Radio City Music Hall, among others.

Read It

Two HPs Walk Into Earnings Season…

Let’s talk about old man Hewlett Packard’s two publicly-traded entities and their earnings from after the bell. πŸ””

First, we’ll start with HP Inc, which trades under the ticker HPQ. This part of the company comprises three reportable segments: personal systems, printing, and corporate investments. It also retained the company’s original ticker and trading symbol upon the split in 2015. πŸ––

Read It

Shipping News Floats To The Top

Shipping stocks aren’t often a topic of conversation, but today’s moves in two stocks brought them into view. πŸ‘€

Zim Integrated Shipping Services saw shares fall 17% today on weaker-than-expected results.Β 

Read It