Zoom Video Communications ( ZM ) narrowly beat first-quarter revenue estimates — $11.4 billion vs. $1.13 billion expected — topping expectations for adjusted earnings — $1.35 per share vs. $1.19 per share expected.
Yahoo Finance’s Market Domination Overtime Review Zoom’s Disappointing Enterprise Customer Numbers and Second-Quarter Guidance
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This post was written by Luke Carberry Mohan.
Video transcript
Zoom reports its 1st quarter results here.
Analysts are estimating earnings per share of $35.19 for the company, with average revenue expectations of $1.14 billion.
And of course Zoom, with the forecast coming in below estimates for its second-quarter adjusted earnings per share.
This is a limit, but a 0.2 above that limit.
Sorry, analysts here were expecting $21 a dollar in earnings.
So it sounds like a disappointment.
Here is another big disappointment.
First quarter enterprise customers were 100 and 91,000.
The estimate is nearly 224,000.
As you know, Zoom as we know it, post-pandemic has tried to add enterprise customers and business customers a little bit away from relying on individuals.
After the epidemic, there were fewer people willing to pay for it.
They especially focused on large enterprise cu customers at one point, but later they also focused on small and medium business.
But any way you cut that number seems like a huge disappointment.
Yes.
I have another one in that line, clients contributing over $100,000 in 12 month revenue.
It is 3883.
But the rating is more than 100 or more than 100, 80 more, 3966.
So, the mix of revenue and how it breaks down, right now we’re not looking at those big purchases or big customers.
