THE ON DECK NEWS

THE ON DECK NEWS DAILY

Menu
  • Terms and Conditions
  • Privacy Policy
Menu

Zoom faces headwinds as corporations reopen, says CFO, because the inventory falls 15%

Posted on August 31, 2021 by

Investors got a glimpse of post-pandemic Zoom on Monday after the video calling software company reported better-than-expected earnings for the second quarter. However, the company struggled with tough year-to-year comparisons as offices reopened and live events returned.

Zoom stocks were down more than 15% on Tuesday morning.

The company’s executives stated the slower growth despite delivering its $ 1 billion first quarter.

“What we are seeing … is headwinds in our mass markets, so these are individual consumers and small businesses. And as you say, they are now moving around the world. People are on vacation again, they are … happy hours personally” Zoom CFO Kelly Steckelberg told CNBC’s “Squawk Box” on Tuesday morning.

“As we got through the back half of the second quarter, we started seeing additional churn there, and that shows in our forecasts for the rest of the year, and that’s what I think you’re going to do in response to that See share, “she added.

Zoom’s forecast for the current quarter was for strong growth in its direct and channel businesses, with weakness in its online business due to challenges from smaller customers and consumers.

Despite the stock slump, analysts remained confident that the company will grow as its corporate endeavors.

“Look, we still believe that Zoom is a very good franchise with tremendous growth in the future, but we anticipate the post-pandemic market will need to streamline another level of growth in its valuation expectations,” said Sterling Auty of JPMorgan.

Subscribe to CNBC on YouTube.

Recent Posts

  • A Review of the Quinear Air Compression Leg Massager
  • Cloud Massage Shiatsu Foot Massager Machine Reviews
  • How to Activate Your New Credit Card
  • Ways to Pay With Mastercard
  • The Benefits of an Amex Platinum Card

Recent Comments

    Archives

    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021

    Categories

    • Business
    • Finance
    • Health
    • Life
    • News
    • Shopping
    • Uncategorized

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    ©2022 THE ON DECK NEWS | Design: Newspaperly WordPress Theme