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








>

FREE

Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.