Zoom share
ZOOM VIDEO
-1.69%
closure:0
opening:81
High:82.52
low:79.77
cycle:—
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Going down today by 4% in the after. The company did overtake the forecasts for the third quarter of 2022, but the forecast for the fourth quarter is again not good. The company expects revenues of 1.1 billion dollars, an increase of only 5% compared to the corresponding quarter last year and slightly below the expected 1.116 billion. In the bottom line, the company expects a profit of $0.77 per share, below the expected $0.8 per share. Say, ok, not such a big miss. Maybe, but it’s worth noting that Zoom doesn’t expect any growth in the next quarter. Its revenue is expected to be the same as the revenue in the quarter that ended, which is known to be a problem.
Beyond that, the stock has lost 85% since the peak it reached in Corona. That is, fluctuations of 4% up or down is not impressive. To get back up, the stock will have to jump again by hundreds of percent, and that, at least at the moment, is not in sight. However, Zoom has mountains of cash of $5.2 billion and the question of how it will use it.
In the third quarter, as mentioned, Zoom exceeded market expectations when it recorded revenues of 1.1 billion dollars while the expectation was 1.096 billion dollars. In the bottom line, Zoom recorded a profit of $1.07 per share, well above the expectation of $0.83 per share, but it is not enough for Zoom to rise after. In the first few hours after the reports were published, the stock rose 4%, but it didn’t take long for it to erase the increase and move into declines.
As of the end of the quarter, the company has 3,286 customers who contribute $100,000 in annual income, a 31% increase compared to last year.
Zoom was the “corona star” and jumped 735% to a dream market value of 161 billion dollars, this against the background of the transition of businesses and companies to work from home, landed in the last year to reality. Since that peak in Corona, a thing or two has happened: the Corona has subsided, people are returning to work also from the office, the use of Zoom is decreasing, and Zoom itself managed to issue financial reports in a chain that disappointed investors and brought down the stock.
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The stock collapsed from the peak, by 85%, to a market value of only 24 billion dollars – all the way back to the price levels it was at before the corona – somewhere in January 2020.
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