Why Zoom Video Stock Is Cratering Today
Shares of Zoom Video Communications (NASDAQ: ZM) were tumbling this morning after the company reported its second-quarter fiscal 2022 results late yesterday. While the popular video calling platform beat analysts' consensus revenue and earnings estimates, investors appear disappointed that customer growth is slowing.
The tech stock had fallen by 15.6% as of 10:28 a.m. EDT.
Zoom reported revenue of $1.02 billion, up 54% from the year-ago quarter and beating analysts' consensus estimate of $991 million. Additionally, Zoom's adjusted earnings per share of $1.36 outpaced Wall Street's consensus estimate of $1.16 per share.
Source Fool.com
