Zoom's quarterly results exceed market expectations

June 02, 2021 13:30

In March, Zoom presented its results for the year 2020, where we observed an increase in its income of 326% and a profit per share of $1.22, with revenue in the last quarter of the year of $882.49 million. Meanwhile, at the close of the session yesterday, we learned the quarterly results of the company. 

These results continue on a similar path as before, again being better than expected by the market consensus, with Zoom obtaining an earnings per share of $1.32 compared to the expected $0.9889. Moreover, revenues also exceeded market expectations, reaching $956.24 million, despite the return to offices in those places where the situation of the pandemic has improved. 

Therefore, the turnover of this first quarter has exceeded the income obtained in the last fiscal quarter of 2020, representing a clear sign of optimism for the company going forwards.

Technically speaking, despite the fact that last year Zoom was one of the great beneficiaries of the situation caused by the pandemic - thanks to the impulse of virtual meetings both at work and through meetings between friends - in recent months, we have seen how the company has followed a clear downward trend, despite the good results. This could be explained due to the strong overheating that this action suffered during the first months of the pandemic and that the market has subsequently corrected until it reached a more appropriate price. 

If we look at the daily chart, we can see that the price is currently fighting with its important resistance level in the coinciding zone of its 18-session moving average and the medium-term downtrend line that began at its all-time highs. 

These good results can give strength to this action, so if the breaking of this resistance level is finally confirmed, the price could experience a strong upward impulse, although for this we must pay attention to whether the price makes a pullback and is overbought. 

For the moment, after yesterday's good results, the pre-opening is trading positive with an increase of more than 2.50%.

Source: Daily Zoom chart of the Admiral Markets MetaTrader 5 platform from January 16, 2020 to June 2, 2021. Taken on June 2 at 11:35 am CEST. Note: Past performance is not a reliable indicator of future results, or future performance.  

 

Evolution of the last 2 years:  

  • 2020: 395.77% 
  • 2019: -6.11% 

 

With the Admirals Trade.MT5 account, you can trade Contracts for Differences (CFDs) of Zoom and more than 3000 stocks! CFDs allow traders to try to profit from the bull and bear markets, as well as the use of leverage. Click on the following banner to open an account today:

Trade With MetaTrader 5

INFORMATION ABOUT ANALYTICAL MATERIALS:

The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admiral Markets investment firms operating under the Admiral Markets trademark (hereinafter “Admiral Markets”) Before making any investment decisions please pay close attention to the following:

  1. This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
  2. Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.
  3. With view to protecting the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
  4. The Analysis is prepared by an independent analyst, Roberto Rojas (analyst), (hereinafter “Author”) based on their personal estimations.
  5. Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis.
  6. Any kind of past or modeled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
  7. Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved.
Avatar-Admirals
Admirals
An all-in-one solution for spending, investing, and managing your money

More than a broker, Admirals is a financial hub, offering a wide range of financial products and services. We make it possible to approach personal finance through an all-in-one solution for investing, spending, and managing money.