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What's Going On With Zoom Video Stock Monday?
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What's Going On With Zoom Video Stock Monday?
May 20, 2024 11:32 AM

Zoom Video Communications Inc ( ZM ) shares are in the spotlight Monday ahead of earnings. Here’s what you need to know before the company reports after the bell.

What To Know: Zoom is due to report its fiscal first-quarter financial results after the market close on Monday. Analysts are looking for earnings of $1.20 per share and revenue of $1.126 billion, according to estimates from Benzinga Pro.

Zoom has beat analyst estimates on the top and bottom lines in six consecutive quarters heading into the print.

Last quarter, Zoom beat revenue estimates of $1.13 billion, turning in revenue of $1.15 billion. The company also beat earnings estimates of $1.15 per share, delivering earnings of $1.42 per share.

“We’re committed to democratizing AI accessibility, offering it to all our customers regardless of business size, included at no extra charge with a paid license,” Eric Yuan, Zoom’s founder and CEO, said at the time.

“Our team is dedicated to platform-wide innovation, introducing hundreds of new features, including those for Zoom Contact Center, which redefine the gold standard for customer experience.”

Zoom guided for first-quarter revenue of $1.125 billion to $1.13 billion and adjusted earnings of $1.18 to $1.20 per share. The company also authorized a buyback of up to $1.5 billion. Investors will be looking for the company to meet or exceed guidance after the bell, as well as any updates on the buyback that was introduced last quarter.

Following the release of the company’s quarterly results, management will hold a conference call to discuss at 5 p.m. ET.

Don’t Miss: What’s Going On With AMC Entertainment Stock?

ZM Price Action: Zoom Video shares are up approximately 7% over the last month. The stock was down 0.5% at $63.83 at the time of publication Monday afternoon, according to Benzinga Pro.

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