Excellent results for Zoom during the first fiscal quarter

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

These results continue on a similar path as before, again better than expected by the market consensus, with Zoom gaining 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 areas where the pandemic situation has improved.

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

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

If we look at the daily chart, we can see that the price is currently struggling with its major resistance level in the overlapping zone of its 18-session moving average and the medium term low trend that started at its all-time highs.

These good results can give strength to this action, so if the break of this resistance level is finally confirmed, the price could experience a strong upward momentum, although for that we need to be careful if the price is reduced and is too bought.

For now, after yesterday’s good results, the pre-opening trade is positive with an increase of more than 2.50%.

Source: Daily Zoom Diagram of the platform Admiral Markets MetaTrader 5 from January 16, 2020 to June 2, 2021. Retrieved June 2 at 11:35 a.m. CEST. Note: Past performance is not a reliable indicator of future outcomes or future performance.

Evolution of the last 2 years:

• 2020: 395.77%
• 2019: -6.11%

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