Zoom stock falls despite topping third-quarter expectations - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Malaysia News News

Zoom stock falls despite topping third-quarter expectations

Zoom founder Eric Yuan reacts at the Nasdaq opening bell ceremony on April 18, 2019 in New York City. The video-conferencing software company announced it's IPO priced at $36 per share, at an estimated value of $9.2 billion.The company also announced a fourth-quarter forecast above what analysts had expected.

A relative upstart before the pandemic hit, Zoom quickly became a household name globally as a desperately needed, easy-to-use video conferencing platform for schools and offices forced to work remotely. The company expects fourth-quarter revenue of between $806 million and $811 million, above estimates of $730.1 million, according to IBES Refinitiv data.

Revenue for the third-quarter ended Oct. 31 surged 367% to $777.2 million, beating analysts' average estimate of about $694 million. Net income attributable to common stockholders jumped to $198.4 million, or $66 per share, from $2.2 million, or 1 cent per share, a year earlier.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

nice

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines