Zoom Video Communications Shares Slide After Hours On Cut Fiscal Year Outlook
23 August 2022 - 8:25AM
Dow Jones News
By Kathryn Hardison
Shares of Zoom Video Communications Inc. fell 8.9% to $88.75 in
after-hours trading on Monday after the video communications
platform company lowered its full-year outlook amid a weakening of
its online business.
Zoom benefited during the Covid-19 pandemic, when lockdowns and
other restrictions had many people working from home. Zoom's video
conference call technology replaced in-person meetings and helped
keep workers connected.
The company had expected adjusted earnings per share between
$3.70 and $3.77 on revenue between $4.53 billion to $4.55 billion
for the fiscal year ending in January.
On Monday, Zoom guided for adjusted earnings per share of $3.66
to $3.69 on a revenue midpoint of $4.39 billion.
The company said its second-quarter sales were hit by the strong
dollar and the weakening of its online business as people return to
work and rely less on video conference calls.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
August 22, 2022 18:10 ET (22:10 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Zoom Video Communications (NASDAQ:ZM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Zoom Video Communications (NASDAQ:ZM)
Historical Stock Chart
From Apr 2023 to Apr 2024
