Zoom Video Q4 Earnings: Revenue Beat, EPS Beat, 'Democratizing AI Accessibility' And More
Portfolio Pulse from Adam Eckert
Zoom Video Communications Inc (NASDAQ:ZM) reported Q4 earnings with a revenue increase of 2.6% year-over-year to $1.15 billion, surpassing the consensus estimate of $1.13 billion. Earnings per share were $1.42, beating estimates of $1.15. The company saw a 4.9% increase in enterprise revenue, while online revenue slightly declined by 0.5%. Zoom ended the quarter with 220,400 enterprise customers, a 3.5% increase from the previous year, and introduced Zoom AI Companion, a generative AI digital assistant. The company provided a mixed outlook for the next quarter and full year, slightly below some estimates, but announced a $1.5 billion stock repurchase program. After the announcement, Zoom shares surged 12.8% in after-hours trading.

February 26, 2024 | 9:22 pm
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Zoom Video Communications Inc reported higher than expected Q4 earnings and revenue, introduced a new AI product, and announced a $1.5 billion stock repurchase program. Shares rose 12.8% after hours.
The positive earnings report, coupled with the introduction of a new AI product and a significant stock repurchase program, likely contributed to the after-hours stock price surge. The company's performance and strategic initiatives indicate strong future prospects, positively impacting investor sentiment.
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IMPORTANCE 95
RELEVANCE 100