U.S. markets open in 4 hours 48 minutes
  • S&P Futures

    3,944.50
    +28.25 (+0.72%)
     
  • Dow Futures

    31,658.00
    +171.00 (+0.54%)
     
  • Nasdaq Futures

    12,252.25
    +111.75 (+0.92%)
     
  • Russell 2000 Futures

    1,774.40
    +12.70 (+0.72%)
     
  • Crude Oil

    107.53
    -0.09 (-0.08%)
     
  • Gold

    1,841.70
    +11.40 (+0.62%)
     
  • Silver

    21.51
    +0.39 (+1.85%)
     
  • EUR/USD

    1.0588
    +0.0029 (+0.28%)
     
  • 10-Yr Bond

    3.1250
    0.0000 (0.00%)
     
  • Vix

    28.16
    -0.89 (-3.06%)
     
  • GBP/USD

    1.2308
    +0.0038 (+0.31%)
     
  • USD/JPY

    134.9970
    -0.1730 (-0.13%)
     
  • BTC-USD

    21,396.43
    -42.04 (-0.20%)
     
  • CMC Crypto 200

    466.75
    +12.85 (+2.83%)
     
  • FTSE 100

    7,274.61
    +65.80 (+0.91%)
     
  • Nikkei 225

    26,871.27
    +379.30 (+1.43%)
     
  • Oops!
    Something went wrong.
    Please try again later.

Zoom stock soars after first-quarter earnings beat

In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Zoom shares are moving higher after posting an impressive Q1 earnings beat.

Video Transcript

SEANA SMITH: Have some new earnings coming out. Zoom just reporting. Shares popping here afterhours, up just around 11%. Jared Blikre has that for us. Jared.

JARED BLIKRE: That's right. The forecast is better than expected, but we want to stick with the first quarter results first. And the revenue came in line at $1.07 billion. That was up 12% year over year. It was a nice beat on EPS. Adjusted EPS coming in at $1.03 versus the estimates, $0.17 lower by the Street. Also, we are looking at free cash flow of $501.1 million. That's up 10%. And it does beat the Wall Street estimate of $412.7 million.

And then, finally, on the first quarter results, cash and cash equivalents ending the quarter at $1.41 billion, when the estimate was for $1.49 billion, so just a bit short of that. But I do want to get to that forecast. Second quarter forecast, they're seeing revenue of $1.12 to $1.12 billion. I guess there's maybe some rounding going in there. The estimate was for $1.11 billion.

But it's really in the 2023 year forecast. They're seeing adjusted EPS of $3.70 to $3.77. And that handily beats the estimate of $3.49. They're still seeing the revenue of $4.53 to $4.55 billion. So nice results for Zoom, up as much as 17% in afterhours trading, guys.

SEANA SMITH: All right, we're going to have more on Zoom earnings with one of our analysts from Mizuho in just a few minutes. But again, Zoom moving to the upside, up just around 11%. Thank you, Jared.