ZM Stock Up 2% in Pre-market, Zoom Reports Spectacular Q1 2022 Earnings Results
4 hours ago by Steve Muchoki · 3 min read
Photo: Eric S. Yuan / Twitter Share this article
You have successfully joined our subscriber list.
Zoom shares went up over 60% in the past year owing to the Covid-19 pandemic but they dropped 20% in the past three months.
Zoom Video Communications Inc (NASDAQ: ZM) stock had gained approximately 2% to trade around $334.40 as of Jun 1, 2021, 7:59 p.m. EDT. And in the pre-market, ZM still demonstrates a 2% rise. The spike was attributed to the better than anticipated Zoom Q1 2022 earnings results.
During the first quarter, Zoom recorded adjusted earnings per share of $1.31 contrary to Refinitiv’s estimated $0.99. Notably, the company’s first-quarter total revenue was reportedly $956.2 million, up 191% year over year and well above the estimated $906 million.