Zoom is poised to show another monster quarter when it reports results on Monday, with sales growth expected to top 300% for a second straight period, CNBC reports.
But investors of late have been looking past this earnings report, as well as the one after that and even the one after that. It’s the back half of 2021 that becomes challenging for Zoom because the company will then have to contend with comparisons to the wild growth periods of the pandemic and surge in remote work.
Additionally, a Covid-19 vaccine appears to be on the horizon for 2021. Both Pfizer-BioNTech and Moderna reported preliminary results showing that their respective Covid vaccines were around 95% effective, while the Oxford-AstraZeneca vaccine had an average efficacy of 70%.
It’s not clear what happens to Zoom’s business when people start returning to the office, but the company’s stock has sold off on positive vaccine news.
For the third quarter, which ended in October, Zoom is expected to show revenue growth of 317% to $694 million, according to analysts polled by Refinitiv. That follows growth of 355% in the fiscal second quarter and 169% in the period ended April.
In the current quarter, which ends in January, Zoom’s growth is projected to stay at a robust 288%, followed by 116% in the next period. Then things start to slow dramatically — into the teens — based on analyst estimates.
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