5 Companies Under Investors’ Radar After Releasing their Earnings Reports

2. Zoom Video Communications, Inc. (NASDAQ:ZM)

Number of Hedge Fund Holders: 48

Zoom Video Communications, Inc. (NASDAQ:ZM) recently announced better-than-expected financial results for its fiscal fourth quarter. However, its sales outlook for the current quarter and full-year was below estimates, sending its shares down nearly two percent in the pre-market trading session on Tuesday, March 1, 2022.

The cloud-based video conferencing platform earned $1.29 per share on an adjusted basis, topping expectations of $1.06 per share. In addition, Zoom Video Communications, Inc. (NASDAQ:ZM) posted revenue of $1.07 billion, beating analysts’ average estimate of $1.05 billion.

Moving forward, Zoom Video Communications, Inc. (NASDAQ:ZM) projected revenue of $1.07 – $1.075 billion for the current quarter and between $4.53 – $4.55 billion for the full year. The guidance missed the consensus of $1.1 billion for Q1 and $4.71 billion for its FY 2023.

Commenting on the quarter, CEO Eric Yuan said:

“In fiscal year 2022, we delivered strong results with total revenue of more than $4 billion growing 55% year over year along with increased profitability and operating cash flow growth as our global customer base continued to grow and find new use cases for our broadening communications platform.”