Zoom earnings: what to expect?
Zoom Video Communications is due to report its third quarter earnings tonight after market close. Wall Street expects earnings of $1.08 per share while revenue is forecast to rise by 1.8% to $1.12 billion.
As people have returned to offices since Covid rules eased, Zoom has had to offer new products. It has rolled out a few AI-powered tools to compete against its rivals and is also planning to enter two new markets. IGTV’s Angela Barnes has more.
(AI Video Transcript)
Zoom Video Communications
Zoom Video Communications the company that provides video communication tools, and it is about to release its third quarter earnings report. Analysts predict that the company will make $1.08 per share and increase its revenue to $1.12 billion. With more people going back to their offices, Zoom has been working on new tools that use artificial intelligence to compete with its rivals. In the future, the company plans to enter the Contact Center and Docs markets, where it will face competition from Microsoft Office and Google Docs.
Zoom's stock during the pandemic
When the pandemic hit, video communication became essential, and that's when Zoom's stock reached its highest point in October 2020. But as lockdowns eased, the stock declined by around 89%. Throughout this year, the stock has remained relatively flat, only experiencing a small increase of 1.12% on the day being discussed.
Zoom's upcoming earnings report
Zoom's upcoming earnings report will give us a better idea of how the company is doing financially and how it has been affected by the post-pandemic environment. The predicted earnings per share and revenue growth give us an insight into the market's expectations for the company. To stay competitive as more people go back to their offices, Zoom has been developing new tools powered by artificial intelligence. It is also planning to enter into the Contact Center and Docs markets to take on Microsoft and Google. These strategic moves will be closely watched to see if Zoom can maintain its success and increase its market share.
The stock performance chart
Looking at the stock performance chart, we can see how the stock boomed during the pandemic and then dropped as lockdowns lifted. It is currently down about 89% from its highest point. In 2021, the stock has not seen much growth and has been trading within a narrow range. However, on the day in question, it experienced a small increase of 1.12%. These fluctuations in the stock's value reflect the market's response to various factors, such as the company's financial performance, competition, and the overall economic conditions.
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