ZM

Zoom Video Communications, Inc. Class A Earnings Update: Did it Beat Estimate Forecasts?

Zoom Video Communications, Inc. Class A (ZM) reported an earnings beat for its 1st quarter, ending 4/30/2024. Earnings per share came in at $1.35, versus the expected $1.19.

The reported revenue of $1.14 billion represents a decrease of -0.46% compared to the previous quarter, and growth of 3.25% compared to the same period last year.

For the 2nd quarter, analysts project earnings of $1.23 per share.

Often, earnings announcements affect a stock’s price. See a history of earnings-related price changes for ZM stock.

What’s Next for Zoom Video Communications, Inc. Class A, Post-Earnings?

According to TipRanks, the average analyst consensus on ZM stock is a Hold. This consensus is based on 24 analyst ratings made in the past 3 months. Zoom Video Communications, Inc. Class A’s average price target of $77.68 implies upside potential of 21.20% from current levels.

See our Earnings Calendar for a full list of this week’s earnings releases.

Bottom Line

An earnings beat can signify positive movement ahead for a stock’s price. Currently, ZM price is $64.09, indicating a 5-day rise of 0.44%.

About Zoom Video Communications, Inc. Class A

Founded in 2011, Zoom Video Communications, Inc. is a cloud-based peer-to-peer software platform that connects people through videotelephony and online chat services. Its video-first communications platform is used for teleconferencing, telecommuting, distance education, and social relations.

Learn more about ZM financials here

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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