(Zoom Video Communications:ZM) stock fell by 16.69% after the company reported their Q2 earnings results on Monday, August 30, 2021 at 10:52 PM.
Here's what investors need to know about the announcement.
Zoom Video Communications beat their estimated earnings by 17.24%, which surprised analysts.
Revenue was up $357,480,000 from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.33, which was followed by a 0.19% drop in the share price the next day.
Here's a look at Zoom Video Communications's past performance and the resulting price change:
|Quarter||Q2 2022||Q1 2022||Q4 2021||Q3 2021||Q2 2021|
|Price Change %||-16.69%||-0.19%||-9.0%||-15.06%||40.78%|
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Zoom Video Communications management provided guidance for their next quarterly earnings announcement, forecasting between $1.07 and $1.08 during Q3, 2022.
This presents a -20.96% in quarter-over-quarter growth for Zoom Video Communications, a bearish signal to many investors.
Listen to the earnings announcement yourself by clicking here.
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