Zoom Video Communications Shares Up 5% on Solid Q1 Results

Zoom Video Communications, Inc. (NASDAQ:ZM) shares closed more than 5% higher on Tuesday following the company’s reported Q1 results, with EPS coming in at $1.03, versus the Street estimate of $0.86. Revenue rose 12% year-over-year to $1.07 billion, in line with the expectations.
Despite solid results, the company continued to see a year-over-year decline in its Online business and reported a deceleration in up-market customer growth and a contraction in its Enterprise NDER.
Oppenheimer analysts said they are comfortable with management’s Enterprise execution and ability to drive more expansion; however, they are also cautious the Online business could remain volatile throughout 2023 and be a meaningful swing factor in management’s ability to deliver on its H2/23 revenue growth acceleration.
The analysts remain cautious near-term, looking for better signs of stability in Zoom’s Online business.


Follow us on Google news for more updates and News

Full Disclaimer



Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.