Zoom set to report first-quarter earnings on Monday
Zoom will report its latest quarterly results on Monday, May 23. Shares have been off more than 70% since its pandemic peak.
Video Transcript
RACHELLE AKUFFO: All right, shifting gears to my stock to watch, which is Zoom. Now it's reporting earnings after the bell Monday. If today's stock action is anything to go by, investors are not optimistic. Their shares to the downside there, just over 1 and 1/3 of a percent. Now Zoom's quarterly adjusted EPS is expected to fall for the first time in several years as revenue slows.
And this pandemic darling is already down more than 70% over the last year, as people return to in-person work. Now the challenge will be retaining and growing market share with those large corporate clients, which contribute about $100,000 each and provide a steady revenue stream for Zoom. So certainly one to watch for next week.
- Indeed it is, thank you, Rachelle.
