Despite earnings beat and upbeat forecast, Zoom shares fall after reporting Q4 results
Today after the bell, Zoom reported its Q4 earnings. The company’s recorded revenue of $188.3 million and its adjusted per-share profit of $0.15 were ahead of expectations, including $176.55 million in revenue and earnings per share of $0.07, according to Yahoo Finance averages.
Down several points during a broad market rally, Zoom has been a hot company to track in recent months. Its profile was heightened due to its position as an incidental benefactor of the world’s grappling with the novel coronavirus — as more countries and companies stressed staying home and working remotely, respectively, Zoom’s video conferencing tool was expected to see rising usage and demand.
The company’s shares were down sharply after reporting its earnings.
What follows is a dive into Zoom’s Q4 earnings, its expectations for the coming period and what those figures may have to say about the infection and its impacts. We’ll wrap with notes from startups that are building remote-work friendly products, sharing what they are seeing on the ground regarding demand for their services during this bleakly fascinating period of history.