Earnings Recap – November 22nd
Zoom, the pandemic’s favorite stock, reported their third quarter earnings after the bell. Earnings per share was $1.11, beating the expectation of $1.09, and revenue numbers were sitting at $1.05 billion, beating the expectation of $1.02 billion. Zoom also cancelled their acquisition of Five9, which was worth $14.7 billion, and they plan to launch their own cloud contact center in return. Guidance was also increased for the next quarter but Zoom warned of decelerating revenue growth as the pandemic starts to end, hindering the quarter.
Agilent Technologies reported their fourth quarter earnings, following a different schedule than most companies. They earned $1.21 per share this quarter, beating the estimate of $1.17. Revenues for this quarter sat at $1.66 billion, barely beating estimates, and it was up from last quarter, marking 4 straight quarters of growth. However, investors weren’t happy with the company’s guidance, leading to a decrease in the share price.
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.