Zoom Stock Falls 8% on Earnings and Sales Guidance Cuts
Zoom Video Communications (NASDAQ: ZM) stock declined 8.3% in Monday's after-hours trading session, following the videoconferencing specialist's release of its second-quarter results for fiscal 2023.
Investors' displeasure is largely attributable to management lowering its full-year guidance for both revenue and earnings. Other factors that likely weighed on shares were the third-quarter outlook coming in lighter on both the top and bottom lines than Wall Street had expected, as well as second-quarter revenue falling short of both the analyst consensus estimate and the company's own guidance.
On the positive side, the former pandemic tech stock darling's second-quarter profit comfortably exceeded both the Street's projection and management's outlook.
Source Fool.com
