Zoom Shares Fall After Q2 Earnings and Guidance
· Business · Yahoo Finance, Economic Times
Zoom Communications stock declined on Wednesday after the company reported second-quarter earnings that narrowly beat analyst expectations. While enterprise sales performed better than anticipated, the company's revenue guidance for the October quarter fell slightly below Wall Street targets. Zoom attributed the softer outlook to ongoing weakness in its consumer business segment. The company reported earnings of $1.55 for the July-ended quarter.
Why it matters
The drop in stock price highlights investor concerns over Zoom's ability to sustain growth as the consumer demand for its services continues to soften.
Read the original report — Yahoo Finance
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