We believe these innovative solutions will further expand our market opportunity for future growth and expansion with customers" he said. Zoom founder and CEO, Eric Yuan, spoke bullishly to the report."In Q1, we launched Zoom Contact Center, Zoom Whiteboard and Zoom IQ for Sales, demonstrating our continued focus on enhancing the customer experience and promoting hybrid work. Other highlights included the number of customers contributing more than $100,000 in trailing 12 months' revenue which was up 46% year over year, while the trailing 12-month net dollar expansion rate for enterprise customers was 123%. EPS was ahead of the consensus while revenue was also higher than expected and up 12% on the year. Decent Earningsįor starters, the company's fiscal Q1 earnings which came out at the end of Monday's session gave investors plenty to think about. But are there reasons to think the spread won't get any wider and are there signs of a bid starting to creep into Zoom? Let's take a look. While the Nasdaq has had one of the worst first 5 months of a year on record and is down 30%, Zoom Video is down a full 85% from 2020's all-time high. It's important to point out however that once we go beyond the timeline of the past two weeks, the divergence ends pretty quickly. Indeed, it was only last Friday that the latter hit fresh lows as the current market-wide sell-off continue to gather pace, while Zoom's most recent low was tagged back on the 12th May. Since the middle of May, their shares have popped more than 10%, while the tech-heavy Nasdaq index has barely managed to stay flat.
There's been something interesting happening with shares of conference call technology stock Zoom Video ( NASDAQ: ZM) in recent weeks.
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