Zoom Video Communications (ZM) reported January-quarter profit and revenue that topped analyst estimates. But ZM stock fell as fiscal 2023 guidance for Zoom earnings came in well below expectations.
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Zoom Video reported fourth-quarter earnings after the market close on Monday. ZM stock fell 4.6% to 126.53 in extended trading on the stock market today.
Analysts expected decelerating earnings and revenue growth for Zoom stock as economies normalize and in-person meetings rebound from the coronavirus pandemic.
Zoom earnings were $1.29 a share on an adjusted basis, up 6% from a year earlier.
Revenue jumped 21% to $1.071 billion for ZM stock. A year earlier, the San Jose, Calif.-based company earned $1.22 cents a share on sales of $883 million.
ZM Stock: Guidance Misses Expectations
Zoom stock analysts projected earnings of $1.07 a share on sales of $1.054 billion for the period…
