Zoom (ZM) shares slide despite earnings beat

Zoom (ZM) stock drops as growth slows, analyst says 'turn is still quarters away'

November 22, 2022 5:37 AM EST

Zoom Video Communications (NASDAQ: ZM) reported the slowest quarterly revenue growth on record to send its shares almost 9% lower in pre-market Tuesday.

Zoom crushed the analyst consensus of $0.83 for third-quarter EPS after reporting $1.07. Revenue came in at $1.10 billion, slightly ahead of the $1.09 consensus. Still, revenue growth year-over-year was just 4.9% - the slowest on record.

Zoom also reported its number of enterprise customers rose by 2.5% to 209,300, missing the Bloomberg average estimate of 210,105. The number of customers contributing more than $100,000 in the trailing 12 months revenue grew by 31% to 3,286.

"Our customers are increasingly... More

Zoom cuts annual revenue forecast on slow online business

November 21, 2022 4:10 PM EST

By Tiyashi Datta

(Reuters) - Zoom Video Communications Inc on Monday lowered its annual revenue forecast, as the video-conferencing platform expects a hit from declining online business.

Zoom chief financial officer Kelly Steckelberg said during a post-earnings call that the company's online business would decline nearly 8% during the year.

After recording blistering growth during the pandemic, Zoom, which competes with WeChat Work, Microsoft... More

Zoom (ZM) Tops Q3 EPS by 24c, Offers Guidance

November 21, 2022 4:07 PM EST

Zoom (NASDAQ: ZM) reported Q3 EPS of $1.07, $0.24 better than the analyst estimate of $0.83. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.09 billion.

GUIDANCE:

Zoom sees Q4 2023 EPS of $0.75-$0.78, versus the consensus of $0.80. Zoom sees Q4 2023... More