Earnings Breakthrough: Fabrinet and Zoom Video Outperform Expectations
- August 21st, 2023
- 454 views
Fabrinet (NYSE: FN), a prominent provider of optical and electronic manufacturing services, unveiled fourth-quarter fiscal 2023 earnings of $1.86 per share, surpassing the consensus EPS estimate of $1.80. The company's quarterly sales totaled $655.87 million, exceeding analysts' projected revenue of $641.41 million.
In after-hours, $FN was trading at $134.01, up $17.23 (+14.75%).
Shifting attention, Zoom Video Communications, Inc. (Nasdaq: ZM) reported second-quarter fiscal 2024 earnings of $1.34 per share, outperforming the consensus EPS estimate of $1.05. The company's quarterly sales hit $1.14 billion, slightly surpassing analysts' expected revenue of $1.11 billion.
For the upcoming third quarter of fiscal 2024, Zoom Video anticipates an adjusted EPS range between $1.07 and $1.09, in contrast to the consensus estimate of $1.03 for the period.
$ZM was trading at $68.78 in after-hours, reflecting an increase of $1.51 (+2.24%).
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