ASX to fall; Boral, Endeavour earnings ahead

Zoom Video Communications projected sales and profit for the current quarter that fell short of Wall Street’s estimates, suggesting tighter corporate budgets and increased competition are hurting growth at the enterprise software maker.Revenue will be about $US1.1 billion in the period ending in October, the San Jose, California-based company said Monday in a statement. Analysts, on average, expected $US1.

Zoom also reduced its annual sales forecast to about $US4.4 billion from its May projection of as much as $US4.55 billion. Zoom’s breakneck growth during the pandemic has cooled considerably as offices reopen and competition intensifies from Microsoft’s Teams video communications platform. Online sales to consumers and small businesses are expected to decline 7 per cent to 8 per cent this year, Chief Financial Officer Kelly Steckelberg said in remarks prepared for the company’s post-earnings conference call.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ASX to slip, earnings and Powell speech in focusAustralian shares are set to open lower, taking direction from Wall Street. It’s the peak week for local earnings. Central bankers converge on Jackson Hole.
Source: FinancialReview - 🏆 2. / 90 Read more »

ASX to slip, earnings and Powell speech in focusAustralian shares are set to open lower, taking direction from Wall Street. It’s the peak week for local earnings. Central bankers converge on Jackson Hole.
Source: FinancialReview - 🏆 2. / 90 Read more »

ASX falls 1pc as interest rates, ex-dividend stocks weighAustralian shares fell on Monday in a broad decline as investors responded to a slew of corporate announcements and speculation of aggressive US policy tightening to rein in inflation.
Source: FinancialReview - 🏆 2. / 90 Read more »