After the video calling software company reported solid fiscal third-quarter results and provided quarterly outlook that was only marginally better than expected, Zoom shares fell 4% during Monday’s extended session.
The company’s performance in relation to the LSEG consensus is as follows:
Adjusted earnings per share: $1.38 compared to $1.31 anticipated Revenue: $1.18 billion as opposed to the anticipated $1.16 billion
Zoom’s revenue increased by roughly 4% year over year for the quarter that concluded on October 31. In contrast to 2020 and 2021, when the Covid-19 pandemic caused the company to triple in size, Zoom has seen revenue growth in the single digits over the past two and a half years.
Net income increased from $141.2 million, or 45 cents per share, in the same quarter last year to $207.1 million, or 66 cents per share. In the quarter, the company reported 192,400 enterprise clients, an increase of 800 over the prior quarter.
Source (CNBC)
