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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 4/30/2023. Earnings per share came in at $1.16, versus the expected $0.99.

The reported revenue of $1.11 billion represents a decrease of -1.11% compared to the previous quarter, and growth of 2.94% compared to the same period last year.

For the 2nd quarter, analysts project earnings of $1.05 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 21 analyst ratings made in the past 3 months. Zoom Video Communications, Inc. Class A’s average price target of $82.94 implies upside potential of 16.15% 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 $71.41, indicating a 5-day rise of 5.25%.


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

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