Earnings Recap – February 28th
Zoom Video reported their first quarter earnings for the year of 2022 right as the market closed. They outperformed expectations on earnings per share and revenue, reporting a profit of $1.29 per share and $1.07 billion respectively. However, Zoom slightly missed their guidance for this quarter and the full year, sending share prices down after hours.
HP announced great quarterly earnings with a profit of $1.10 per share, and sales were much better than expected, sitting at $17.03 billion. HP’s profit shocked the market due to the ongoing supply chain problems, although things could get worse. HP stated in their earnings call that the ongoing sanctions on Russia would affect their earnings by as much as 3 cents per share, giving investors some confidence.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.