{"id":51378,"date":"2023-08-22T01:06:04","date_gmt":"2023-08-22T05:06:04","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/zooms-stock-pops-4-on-strong-earnings-guidance\/"},"modified":"2023-08-22T01:06:06","modified_gmt":"2023-08-22T05:06:06","slug":"zooms-stock-pops-4-on-strong-earnings-guidance","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=51378","title":{"rendered":"Zoom\u2019s stock pops 4% on strong earnings, guidance"},"content":{"rendered":"
\n

Zoom Video Communications Inc.\u2019s stock climbed in extended trading Monday, after the videoconferencing company topped expectations across the board with its financial results and forecasts.\u00a0<\/p>\n

Zoom\u00a0
\n ZM,
\n +1.48%<\/bg-quote>
\n rang up fiscal second-quarter net income of $182 million, or 59 cents a share, on revenue of $1.14 billion, up from $1.1 billion a year ago. After adjusting for stock compensation and other effects, Zoom reported earnings of $1.34 a share, up from $1.05 a share last year and topping analysts\u2019 expectations. <\/p>\n

\n

Analysts surveyed by FactSet had on average expected adjusted net income of $1.06 a share on revenue of $1.11 billion.<\/p>\n

Zoom forecast third-quarter adjusted earnings of $1.07 to $1.09 a share on revenue of $1.12 billion to $1.21 billion, while analysts on average were projecting $1.03 a share on sales of $1.06 billion, according to FactSet. <\/p>\n

For the full year, the company predicted adjusted earnings of $4.63 to $4.67 a share on revenue of $4.49 billion to $4.5 billion, while analysts on average were expecting $4.32 a share on sales of $4.5 billion.<\/p>\n

\u201cIn addition to delivering innovation to our customers, in Q2 we delivered GAAP EPS of $0.59 and non-GAAP EPS of $1.34, both up meaningfully year over year. With this strong operating discipline, we grew operating cash flow by 31% year over year to $336 million,\u201d Zoom Chief Executive Eric Yuan said in a statement announcing the results.<\/p>\n

Shares of\u00a0Zoom initially advanced more than 8% in after-hours trading Monday following the release of its results, but they later cooled, ending the extended session up 3.7%. Zoom\u2019s stock has dipped 0.7% this year, while the broader S&P 500 index\u00a0
\n SPX
\n has advanced 15%.<\/p>\n

Earlier this month, Zoom joined scores of other tech firms and requested that most of its 7,400-person workforce return to the office. Employees within 50 miles of an office are now required to work in person on a part-time basis, a plan Zoom intends to roll out in August and September.<\/p>\n

Despite escalating competition from the likes of Microsoft Corp.
\n MSFT,
\n +1.71%<\/bg-quote>,<\/span>
\n Cisco Systems Inc.
\n CSCO,
\n +0.73%<\/bg-quote>
\n and Alphabet Inc.\u2019s
\n GOOGL,
\n +0.71%<\/bg-quote><\/p>\n

GOOG,
\n +0.64%<\/bg-quote>
\n Google, Zoom has been able to hold its own with a steady stream of products and services for consumers.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Zoom Video Communications Inc.\u2019s stock climbed in extended trading Monday, after the videoconferencing company topped expectations across the board with its financial results and forecasts.\u00a0 Zoom\u00a0 ZM, +1.48% rang up fiscal second-quarter net income of $182 million, or 59 cents a share, on revenue of $1.14 billion, up from $1.1 billion a year ago. After […]<\/p>\n","protected":false},"author":1,"featured_media":51379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-51378","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nZoom\u2019s stock pops 4% on strong earnings, guidance | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Zoom Video Communications Inc.\u2019s stock climbed in extended trading Monday, after the videoconferencing company topped expectations across the board with\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=51378\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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