Below, we’ll look more closely at what the two companies said and what it implies for their industry peers in the weeks and months to come.
Shares of Zoom Video Communications did manage to post a modest after-hours rise of less than 1% following the release of its third-quarter financial results.
Zoom’s business performance continued to look solid.
Moreover, Zoom saw a slowdown in general customer growth, with just 18% more customers with more than 10 employees using the video collaboration service.
Zoom’s stock price soared during the early months of the COVID-19 pandemic as investors saw dramatic upswings in usage.
And on the bottom line, Urban Outfitters managed to see income improve by 16% from year-ago levels and by almost 60% compared to two years ago.
Moreover, wholesale segment sales were down 15% from two years ago, due largely to the company’s strategic decision to cut back on Free People Group’s sales to promotional wholesale customers.
You might think that simply surviving a tough period for retail would be enough to satisfy investors.