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published in Blogs
Nov 24, 2021
Zoom Video (ZM, $206.64) beats Q3 earnings expectations

Zoom Video (ZM, $206.64) beats Q3 earnings expectations

Zoom Video posted third quarter earnings that surpassed analysts’ expectations.

The video conferencing company’s adjusted earnings for the three months ending October came in at $1.11 per share, above the  $1.09 per share expected by analysts polled by Refinitiv.

Revenue rose +35% from the year-ago quarter to  $1.05 billion also topped analysts’ estimates  of $1.02 billion.

In the latest quarter, Zoom said it had cancelled  plans to acquire cloud contact center software provider Five9 for $14.7 billion. Zoom also announced that its own cloud contact center software would be launched in early 2022.

For the fiscal fourth quarter, Zoom projects adjusted earnings of $1.06 to $1.07 per share—compared to  $1.05 forecast from analysts polled by Refinitiv. The company expects revenue in the range of  $1.051 billion to $1.053 billion, vs. $1.02 billion in revenue expected by analysts polled by Refinitiv.

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