Zoom Earnings Beat Expectations: 5 Key Metrics You Should See
Zoom Video Communications (NASDAQ: ZM) reported powerful results for its first quarter of fiscal 2022, which ended on April 30. The videoconferencing specialist's business continued to get a tailwind from the COVID-19 pandemic, which has driven a surge in the number of people using its services for working, learning, and socializing from home.
Shares of Zoom (which went public in April 2019) are up 2.8% on Wednesday as of 9:35 a.m. EDT. We can attribute the market's initial positive reaction to both revenue and earnings handily beating the Wall Street consensus estimates, fiscal Q2 guidance for both the top and bottom lines also easily surpassing analysts' expectations, and management raising its full-year outlook for both revenue and earnings.
The market's reaction is muted because while year-over-year growth is still strong, it's slowing and expected to continue to slow. As I wrote in my earnings preview, this "report marks Zoom's last relatively easy year-over-year comparable. It covers the period from February through April, so the year-ago period includes only about one and a half months that got a boost from the pandemic."
Source Fool.com
