Zoom Video Q3 Earnings: EPS And Revenue Beat, Customers Count Up 5%, Upbeat Outlook And More
Portfolio Pulse from Adam Eckert
Zoom Video Communications Inc (NASDAQ:ZM) reported Q3 earnings with a 3.2% year-over-year increase in revenue to $1.14 billion, surpassing the consensus estimate of $1.12 billion. EPS was $1.29, beating estimates of $1.08 and marking the 18th consecutive beat. Enterprise customers grew by 5% to 219,700, with 3,731 contributing over $100,000 in revenue, up 13.5%. The company raised its full-year outlook for revenue, non-GAAP profitability, and free cash flow. Shares rose 6.09% after hours to $70.02.
November 20, 2023 | 9:23 pm
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Zoom's Q3 earnings exceeded expectations with revenue and EPS surpassing estimates, a growth in enterprise customers, and an increased full-year outlook. Shares increased by 6.09% in after-hours trading.
The positive earnings report, with higher-than-expected revenue and EPS, along with an increased outlook for the full year, are strong indicators of the company's financial health and growth prospects. This typically results in a positive short-term impact on the stock price, as evidenced by the after-hours trading increase.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100