ZoomInfo Reports Mixed Second Quarter Earnings, Announces Share Repurchase Program
Portfolio Pulse from Ryan Gustafson
ZoomInfo Technologies Inc. reported mixed Q2 earnings, beating the analyst consensus estimate for earnings per share but missing on sales. The company also provided weak guidance for Q3 revenues and cut its 2023 revenue outlook. Additionally, ZoomInfo announced a $500 million share repurchase program.
July 31, 2023 | 9:39 pm
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ZoomInfo's mixed Q2 earnings, weak Q3 guidance, and reduced 2023 revenue outlook may negatively impact its stock price. However, the announced $500 million share repurchase program could provide some support.
ZoomInfo's earnings miss and weak guidance are negative signals that could lead to a decrease in its stock price. However, the announced share repurchase program, which often boosts investor confidence by signaling that the company believes its shares are undervalued, could mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100