HomeTechnologyZoom Stock Surges After Beating Earnings Estimates

Zoom Stock Surges After Beating Earnings Estimates

Zoom released its earnings for the second quarter on Monday, beating analysts’ expectations. The company’s stock surged 5% after the closing bell, with its revenue guidance for the third quarter remaining flat.

Revenue for Q2 was $1.14 billion, beating Wall Street estimates of $1.11 billion. Adjusted earnings per share stood at $1.34, outpacing expectations of $1.05 per share. The number of enterprise subscribers fell short of expectations, however, at 218,000 compared to an expected 219,350.

As the video conference software company faces the challenge of rising competition, CEO Eric Yuan defended Zoom’s pricing power. “n terms of pricing power, most … businesses, they still view employee experience as the No. 1,” Yuan declared. “Most of the customers we’re talking with, they really appreciate the value and ease of use and quality of the Zoom service.”

Marriott Projects Revenue Growth Amid Resilient Travel Demand

Marriott International forecasted on Wednesday that 3% to 6% growth in its annualized global revenue per available room for the two years ending 2025 as the...

Dollar and Stocks Steady as Bonds Ease From Record Highs

The U.S. dollar and stocks in New York stabilized on Wednesday, while U.S. Treasury Yields retreated from their 16-year high, easing pressure on the...

New Home Sales Plummet in August

Sales of new U.S. single-family homes plunged in August as the 30-year mortgage rate rose past 7%, thereby discouraging would-be buyers. According to data...