Zoom stock skyrockets after latest earnings report

Zoom stock skyrockets after latest earnings report

Zoom reported fiscal fourth-quarter 2021 figures and forecast that soundly beat expectations

The company saw a revenue increase of 369%, bringing the figure to $882.5 million. The result came in higher than the $811.8 million forecasted. Also, Zoom revealed an adjusted EPS of $1.22, topping the 79 cents/share consensus.

Compared to the previous quarter increase of 354% in the number of users, in fiscal Q4, the growth was more considerable – 470%, bringing the number of customers to 467,100.

Zoom ended the quarter with $4.24 billion in cash, up from $1.87 billion the previous quarter.

For the fiscal first quarter of 2022, Zoom sees its EPS reaching a high of 95 cents on revenues of $905 million. Both figures exceed the figures touted by analysts: adjusted EPS of 72 cents on revenues of $829.2 million.

For the full 2022 fiscal year, the company expects its revenue to grow 42% to a high of $3.78 billion.

After the news hot the wires, Zoom stock price went up 11%. Since the beginning of the year, Zoom stock price added 22%, while USA500 gained less than 4%.

Sources: cnbc.com

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