Zoom Video Shares Rally 8% as Earnings Top Estimates

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Zoom Video Shares Rally 8% as Earnings Top Estimates

marketwatch2023-02-28

Zoom Video Communications shares are gaining ground in late trading Monday after the company posted better-than-expected financial results for its fiscal fourth quarter ended Jan. 31.Zoom’s outlook ...

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tungleh
·2023-02-28
Well done!
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AlanChong
·2023-02-28
Ok
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Revenue was 6% higher on a currency adjusted basis.Zoom earned $1.22 a share in the quarter on an adjusted basis, topping both the company’s guidance range of 75 to 78 cents a share, and the Street consensus at 80 cents. Under generally accepted accounting principles, the company lost 36 cents a share. Free cash flow was $183.3 million, down from $186.6 million in the year-ago quarter.Zoom CEO Eric Yuan noted in a statement that “the macroeconomic situation continues to negatively impact our overall growth.”For the full fiscal year, Zoom reported revenue of $4.39 billion, up 7%, or 9% adjusted for currency. 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