Shares of Zoom
Video Communications were up 2% in
after-hours trading tonight following an earnings report in which the
company's first-quarter revenue soared 191%, to $956 million.
My colleague Eric
Savitz notes,
though, that the company has grown revenue more than 300% in each of
the last three quarters. "For this company, growth of nearly 200%
represents a considerable slowdown," Eric wrote tonight.
Zoom also boosted its
revenue outlook for its current fiscal year to somewhere between $3.975
billion and $3.99 billion. That was better than Wall Street's expectations
for $3.8 billion. Keep in mind that in its last full year before the pandemic,
Zoom had annual sales of $623 million.
Everything is relative when it comes to Zoom. The stock is down 44% from last year's high. It's still up 61% over the last 12 months.
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