Published on 28 Feb 2023 on GuruFocus.com via Yahoo Finance
Zoom: The Good and the Bad
Zoom Video Communications Inc. (NASDAQ:ZM) reported better-than-expected earnings for the fourth quarter of fiscal 2023, sending its shares higher in after-market trading on Feb. 27. The company has lost nearly 90% of its market value after reaching a peak in late 2020, aided by mobility restrictions and the exponential growth of work-from-home mandates.
With the reopening of the economy, investors' focus shifted to companies that would benefit from easing restrictions. As a result, the stock fell out of favor.