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Zoom shares fall after missing estimates for the second quarter

By Shubhangi Mathur - Aug 23, 2022, 06:11 PM ET
Last Updated - Jul 18, 2023, 04:30 PM EDT
Zoom shares fall after missing estimates for the second quarter

The company also lowered its forecast for the full 2023 fiscal year

Shares of Zoom Video Communications Inc (NASDAQ: ZM) fell 16%, a day after the company missed Wall Street expectations for the second quarter.

For the quarter, the company reported $1.10 billion in revenue for the quarter, short of the $1.12 billion expected by analysts, according to Refinitiv.

The company also lowered its forecast for the full 2023 fiscal year.

The video communications company boomed during the pandemic as businesses and schools operate remotely. 

Picture Credits: Getty Images

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