Top 5 Losers on Tuesday

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In this article, we discuss the top 5 losers on Tuesday. If you want to check out some other stocks losing value today, go directly to Top 10 Losers on Tuesday.  

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

Number of Hedge Fund Holders: 44

Zoom Video Communications, Inc. (NASDAQ:ZM) delivered mixed results for its fiscal second quarter. Moreover, its financial outlook for the current quarter missed estimates, sending its shares down about 12 percent in pre-market trading Tuesday.

The communications technology company earned $1.05 per share on an adjusted basis, down from $1.36 per share in the year-ago period. Revenue for the quarter rose 8 percent on a year-over-year basis to $1.10 billion. Analysts expected Zoom Video Communications, Inc. (NASDAQ:ZM) to earn 94 cents per share on revenue of $1.12 billion.

Looking forward, Zoom Video Communications, Inc. (NASDAQ:ZM) projected adjusted earnings in the range of 82 – 83 cents per share and revenue between $1.095 – $1.100 billion for its fiscal third quarter. This compares to the consensus of 91 cents per share for earnings and $1.15 billion for revenue.

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