The video conferencing provider is likely to see y/y revenue growth drop into the single digits for the first time since it went public, based on the company’s own forecast and consensus estimates, as a weakening economy and broader return-to-office trends cut into sales. Monday: Zoom Video ( ZM US) will report after-market. Reports next week will give investors further insight into the second-half for retailers, chipmakers and software providers as the peak earnings period draws to a close. Yet evolving shopping behaviors across the income spectrum, along with price markdowns from excess inventory, are contributing to the highest proportion of earnings misses for the consumer discretionary sector than elsewhere in the S&P 500 this season. Better-than-expected US retail sales data and upbeat outlooks from Walmart and Target this week demonstrated the resilience of the American consumer amid hyperinflation and rising rates.
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