Zoom's blowout earnings report sends shares soaring higher

ZOOM’s earning report is out and here is what we found out.

·      Earnings: 92 cents per share, adjusted, vs. 45 cents per share as expected by analysts, according to Refinitiv.

·      Revenue: $663.5 million, vs. $500.5 million as expected by analysts, according to Refinitiv.

·      Revenue grew 355% on an annualized basis in the fiscal second quarter, which ended on July 31, and income neared $186 million, according to a statement. In the prior quarter Zoom’s revenue grew by 169%.

·      Zoom averaged 148.4 million monthly active users in the quarter, up 4,700%

·      Zoom shares are up 369% since the beginning of the year, while the S&P 500 index is up about 9%

·      fiscal third-quarter earnings of 73 cents to 74 cents per share on an adjusted basis and $685 million to $690 million in revenue

·      Zoom raised its guidance for the full 2021 fiscal year. It called for $2.40 to $2.47 in adjusted earnings per share and $2.37 billion to $2.39 billion in revenue

more details soon