Notifications Bell

Zoom earnings report tops estimates

Zoom earnings report tops estimates

Zoom beat analysts’ fiscal Q3 2022 expectations and revealed plans for early 2022

For the quarter ended October 31, Zoom revenue increased 35% from the year ago period to $1.05 billion. The figures came in slightly higher than the $1.02 billion expected. At the same time, the adjusted EPS came in at $1.11 versus $1.09 per share estimated. Also, it reported the slowest growth since at least 2018, before its 2019 IPO.

However, the company is expanding its usage within big organizations. Currently, Zoom has more than 2,500 customers who are spending over $100,000 per year, up 94% from the same time last year.

Zoom stock moved swiftly higher last year, becoming a fabric of culture as millions of people adopted the software to remotely attend classes and meet after the COVID-19 pandemic made in-person gathering difficult. Moreover, during the quarter Zoom called off its plans to buy cloud contact center software provider Five9 for $14.7 billion. The company revealed that in early 2022 it will launch its own cloud contact center.

For the fiscal Q4, Zoom forecasted adjusted earnings per share as high as $1.07, on revenues of $1.05 billion, pointing to a 19% growth.

Disregarding the after-hours move following the report, Zoom shares are down 28% since the beginning of the year, while USA500 gained 25%.

Source: cnbc.com

This information prepared by sc.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.

Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of sc.capex.com