💻 Zoom Soars on Strong Q2 Results Amid Market Volatility, While Snowflake Slumps Amid a Rollercoaster Day for Tech Stocks | Tech Sector Insights
Zoom Video Communications reported better-than-expected Q2 results, surpassing analyst estimates and providing strong forward guidance for Q3 while raising its fiscal year 2025 revenue outlook beyond consensus estimates.
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Below are AI-generated insights on moves in the information technology sector, powered by MarketReader technology.
Thursday, August 22
VGT [+0.3%]
The Vanguard Information Technology ETF (VGT) has seen a price increase of 0.3% since Wednesday. Key contributors to this performance include NVDA, which rose significantly, along with AVGO, AAPL, and MSFT, each posting positive returns. Notably, Microsoft has forecasted revenue ranges for its various segments, anticipating a slight decline in Azure revenue and restructuring its reporting segments. In contrast, Zoom Video Communications reported better-than-expected Q2 results, surpassing analyst estimates and providing strong forward guidance for Q3 while raising its fiscal year 2025 revenue outlook beyond consensus estimates.