Shares of Zoom Video Communications Inc (NASDAQ: ZM) have been in a freefall ever since they peaked at $559 in mid-October 2020. But the company’s finance chief has a strategy for fiscal 2023 that could potentially give new life to this fallen angel.
Highlights from CFO’s interview with CNBC’s Jim Cramer
According to CFO Kelly Steckelberg, the technology will focus more on mergers and acquisitions to drive growth in fiscal 2023. Speaking with the Mad Money host Jim Cramer, she said:
M&A is a really important part of our future strategy. There are many smaller companies out there that can really augment not only our talent but also our technology and accelerate areas of development.
Zoom is expected to report its Q1 results in May. Earlier this week, RBC Capital’s Rishi Jaluria said the industry giants could see ZM down over 75% as a valuable acquisition.
Zoom updated FY2023 forecast last month
The finance chief sees mergers and acquisitions as means of driving more customers to the platform, much like the recently launched Contact Center. She added:
It’s a perfect opportunity to continue acquiring features and functionality that will accelerate the development of that product. So, you should expect M&A to be a bigger part of our strategy in fiscal year 2023.
Zoom forecasts up to $3.51 of per-share earnings this year on $4.53 billion to $4.55 billion in revenue – both below the Wall Street expectations.
The post Zoom Video Communications to focus on M&A in fiscal 2023 appeared first on Invezz.
Source: https://invezz.com/news/2022/04/15/zoom-video-communications-to-focus-on-ma-in-fiscal-2023/