What's Going On With Zoom Video Stock Today?
Portfolio Pulse from Adam Eckert
Zoom Video Communications Inc (NASDAQ:ZM) reported better-than-expected Q4 financial results, issued strong guidance, and announced a new $1.5 billion share repurchase program. Q4 revenue rose 2.6% YoY to $1.15 billion, surpassing estimates. Earnings per share were $1.42, beating estimates of $1.15. The company ended the quarter with 220,400 enterprise customers, a 3.5% increase YoY, and introduced Zoom AI Companion. FY24 revenue is expected to be around $4.6 billion, with earnings between $4.85 and $4.88 per share.
February 27, 2024 | 1:35 pm
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Zoom Video Communications Inc reported strong Q4 results, surpassing revenue and EPS estimates, and announced a $1.5 billion share repurchase program. The company also provided optimistic guidance for FY24.
Zoom's better-than-expected financial performance and the announcement of a significant share repurchase program are likely to positively impact investor sentiment and the stock price in the short term. The optimistic guidance for FY24 further reinforces the company's growth trajectory, making it an attractive asset for investors.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100