Zoom's forecast for full-year adjusted diluted earnings per share is now in the range of $3.66 and $3.69, versus previous estimates of $3.70 to $3.77.
Shares of the company fell more than 11% in pre-market trading Tuesday. The view reflected a $35 million hit from the stronger dollar and a $115 million impact from the global macroeconomic environment, Chief Financial Officer Kelly Steckelberg told analysts on a conference call late Monday, according to a Capital IQ transcript. The Capital IQ analyst consensus was $4.53 billion when the company released its results late Monday, but it stood at $4.4 billion Tuesday.
The company that became a household name for video calls during the COVID-19 pandemic anticipates sales of about $4.39 billion to $4.4 billion during fiscal 2023, compared with previous projections of $4.53 billion to $4.55 billion. 06:40 AM EDT, (MT Newswires) - Zoom Video Communications (ZM) cut its sales and earnings guidance for the year after reporting mixed results for the fiscal second quarter, and said the broader macroeconomic environment and a strong dollar are hurting its outlook.
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