Diamonds and Dogs

8/22/24

Zoom Video (ZM) zooming higher. The company beat by 18 cents as revenue rose 2.1% to $1.16 billion. The better news is the company raised guidance for the quarter and full year as management expects Zoom conference calls and demand to improve going forward.  The Board of Directors authorized a stock repurchase program of up to $1.5 billion of its common stock.

Snowflakes (SNOW) in August? The cloud software firm is down 13% following better than expected earnings. Wall Street seemed to be expecting an even bigger beat, but raising costs kept profits down. Operating margins were only 3%, due to higher commissions tied to sales incentives, higher R&D associated with new products, and hiring in the second half.