Zoom shares jump on better-than-expected fourth-quarter results
Publishing timestamp: 2023-02-27 19:53:46
Summary
Zoom reported fourth quarter results that exceeded analysts' estimates and offered optimistic earnings guidance for the year. Revenue increased 4% year over year and the company had its first net loss since 2018. Zoom announced that it will cut 1300 employees, representing 15% of its workforce. The stock is up 8% for the year and the company is introducing email and calendar services, along with a virtual agent chatbot for customer service inquiries.
Sentiment: POSITIVE
Tickers: ZM,
Keywords: technology, enterprise, earnings, business, breaking news: earnings, business news, zoom video communications inc, breaking news: technology,
Source: https://www.cnbc.com/2023/02/27/zoom-zm-earnings-q4-2023.html