News & Analysis
News & Analysis

Zoom exceeds Wall Street expectations for Q4

1 March 2022 By Klavs Valters

Share

Zoom Video Communications Inc. (ZM) reported its fourth-quarter 2021 financial results after the closing bell over in the US on Monday.

The US based company, which offers a cloud-based video conferencing service reported total revenue of $1.071 billion (up by 21% year-over-year), which was above analyst estimate of $1.054 billion.

Earnings per share also exceeded estimates at $1.29 per share vs. $1.07 expected.

”In fiscal year 2022, we delivered strong results with total revenue of more than $4 billion growing 55% year over year along with increased profitability and operating cash flow growth as our global customer base continued to grow and find new use cases for our broadening communications platform,” Founder and CEO of Zoom, Eric S. Yuan said in a statement following the latest results.

”Looking forward, we are addressing a large opportunity as we expect customers will continue to transform how they work and engage with their customers. It is apparent that businesses want a full communications platform that is integrated, secure, and easy to use. We are proud to lead the charge of the digital transformation for communications. To sustain and enhance our leadership position, in fiscal year 2023 we plan to build out our platform to further enrich the customer experience with new cloud-based technologies and expand our go-to-market motions, which we believe will enable us to drive future growth,” Yuan added.

Zoom Video Communications Inc. (ZM) chart

Shares of Zoom were up by 5.81% at the end of trading on Monday at $132.50 per share.

Here is how the stock has performed in the past year –

  • 1 Month: -14.05%
  • 3 Month: -39.45%
  • Year-to-date: -27.90%
  • 1 Year: -67.63%

Zoom Video Communications Inc. is the 460th largest company in the world with total market cap of $39.51 billion.

You can trade Zoom (ZM) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: Zoom Video Communications Inc., TradingView, MetaTrader 5, CompaniesMarketCap

Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.

#Economy #Economics #Finance #Markets