Zoom Shares Tank After 2Q Earnings Report and CrowdStrike Shares Slide After Earnings Beat
On Tuesday, shares of Zoom Video Communications plunged, closing down 16.69%.
Shares of the American communications technology company fell after the company reported its fiscal second-quarter earnings.
The company reported adjusted earnings of $1.36 per share vs. $1.16 per share as expected by analysts. Revenue increased 54% year over year, growing to $1.02 billion vs. $991.0 million as expected by analysts. Zoom expects next quarter’s revenue to grow 31%.
Zoom expects adjusted earnings per share of $1.07 to $1.08 on revenue of $1.01 billion to $1.02 billion in the coming quarter. Analysts predicted $1.09 adjusted earnings per share and $1.01 billion in sales.
Shares of Zoom Video Communications have fallen 14% this year.
On Monday, shares of CrowdStrike fell, closing down 1.88% in the regular session before falling over 3% after-hours.
Shares of the American cybersecurity technology company fell after the company posted a quarterly earnings report that surpassed Wall Street’s expectations.
The company reported a loss of $57.3 million, or $0.25 per share, in the fiscal second quarter compared to a loss of $29.9 million, or $0.14 per share, in the year-ago period. Revenue increased to $337.3 million from $199 million in the previous quarter. Analysts expected the company to post earnings of $0.09 a share on revenue of $323.2 million.
Shares of CrowdStrike have risen over 30% this year.
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