Not all cloud computing stocks have fared well in the current crisis and those serving the SMB (small and midsize business) segment are seeing a much bigger impact. Zendesk (ZEN) recently announced its quarterly results that failed to impress the market with its outlook.
Zendesk's Financials
Zendesk's first quarter revenues grew 31% to $237.4 million, in line with the market's forecast. GAAP net loss was $36.2 million. Adjusted EPS of $0.10 was ahead with the Street's estimates of $0.06. But the company's outlook dampened the performance.
Zendesk withdrew its outlook for the year amidst