Zoom reports blowout earnings but warns of a coming slowdown

[superadmin]

• Zoom’s first-quarter results exceeded estimates across the board.
  
• The company now sees 50% revenue growth for the full fiscal year as expansion drops from the pandemic-fueled 2020.
  

Zoom reported better-than-expected first-quarter results Tuesday, with sales growth of 191%. The shares rose 4% in extended trading after initially falling as much as 5% as the company showed signs of a looming slowdown.

Here’s how the company did:

• Earnings: $1.32 per share, adjusted, vs. 99 cents per share as expected by analysts, according to Refinitiv.
  
• Revenue: $956.2 million, vs. $906.0 million as expected by analysts, according to Refinitiv.
  

Revenue in the quarter, which ended on April 30, jumped from $328.2 million a year earlier, according to a statement. In the previous quarter revenue rose 369% as Zoom lapped the onset of the coronavirus pandemic in the U.S., which brought in millions of new users.


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