Zoom Stock Soars 6% Following Strong Q4 Results

Zoom Stock Soars 6% Following Strong Q4 Results Feb. 27, 2024, 11:53 a.m., readers: 14

Zoom Video Communications (NASDAQ:ZM) shares gained more than 6% intra-day today after the company announced fourth-quarter earnings that surpassed analyst predictions, driven by strong product demand amid the rise in hybrid work models. Zoom reported Q4 adjusted earnings per share (EPS) of $1.42, an increase from $1.22 the previous year, and higher than the expected $1.34B. Looking ahead to the first quarter, Zoom anticipates earnings per share to range from $1.18 to $1.20, with projected revenues of around $1.13 billion. This guidance slightly exceeds analyst expectations, which were set at $1.14 and $1.13B, respectively. For the fiscal year 2025, Zoom forecasts its adjusted EPS to be between $4.85 and $4.88, with expected revenues of around $4.6 billion.

About NASDAQ: ZM

Z oom Video Communications, Inc. provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system;

Price: 59.28
Market cap: 18.2 billion USD
Eps: 2.07
P/e ratio: 28.64
Focus Analysis On: ZM