Zoom Shares Turn Higher

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Zoom Shares Turn Higher

Zoom Shares Turn Higher On Above Forecast Q4 Results

Zoom Video Communications (ZM) has released the Q4 results, which are higher than the estimates made by Wall Street. The better-than-expected results of Zoom were driven by higher demand for the company's products as the world moves towards a hybrid workspace.

After the news, Zoom shares (ZM) increased during the premarket trading session. The previous day's close was $63.12, while the premarket session has sent it higher than $69 already.

So, for those who bought the Zoom shares during the last session, the upcoming US session will bring a welcoming surprise.

Zoom Focuses On Ai

Zoom company has also put a lot of focus on adding AI to various products and services. The company has also introduced an AI companion that can summarise the meetings.

Overall, it appears that Zoom wants to completely cash into the AI hype train, which is already apparent from its stock performance.

The company's CEO added that the new AI products allow them to sell more products/services to the customer base.

As per the results, the company's EPS was $1.42, an improvement from the earlier reading of $1.22. Additionally, the company has also cited several around $1.34 billion.

During Q1, Zoom guided an adjusted EPS of $1.18 - $1.20, while the analysts sought a number between $1.14. Similarly, the company's revenue figure for Q1 is $1.13 billion, while the market has only cited around $1.13 billion.

Zoom has also forecasted adjusted EPS to be around $4.85 - $4.88. As for the revenue forecast, the company has set its eyes on $6.4 billion in the fiscal year 2025.

The bottom line is that the numbers for the quarter were exemplary in every aspect. That's why the company's shares are expected to rise even further once the US session officially starts.

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