What's Going On With Zoom Video Stock Tuesday?
Portfolio Pulse from Adam Eckert
Zoom Video Communications Inc (ZM) reported better-than-expected Q2 results and strong earnings guidance, leading to a rise in its stock. Q2 revenue increased 3.6% YoY to $1.14 billion, beating the consensus estimate of $1.11 billion. Adjusted earnings were $1.34 per share, surpassing analyst estimates of $1.03 per share. The company expects Q3 revenue to be between $1.115 billion and $1.12 billion and full-year revenue to be between $4.485 billion and $4.495 billion. Several analysts have updated their ratings and price targets for Zoom.
August 22, 2023 | 12:51 pm
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POSITIVE IMPACT
Zoom's better-than-expected Q2 results and strong earnings guidance could lead to a short-term positive impact on its stock.
Zoom's Q2 results surpassed expectations, and the company issued strong earnings guidance. This positive news could lead to increased investor confidence and a short-term rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100