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Zoom Communications Posts Slowest Revenue Growth in Q1, Upgrades Full-Year Earnings

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The video-conferencing platform Zoom Communications Inc reported the slowest quarterly revenue growth since the company went public in Q1.

Source: Zoom

ZM up +5.23%, CSCO down -0.58%, pre-market trading

The first-quarter revenue jumped by 12% to $1.07 billion, the slowest growth rate. The easing is attributable to many people returning to the office.

Zoom Video Communications, Inc increased its full-year adjusted profit outlook, betting on solid demand from large businesses in a hybrid work environment.

The company’s revenue from high-paying customers rose by 31% in Q1, accounting for 52% of the total revenue.

Kelly Steckelberg stated that the company was expecting revenue from enterprise customers to grow as a percentage of total revenue over time.

Zoom anticipates adjusted profit per share to be between $3.70 and $3.77 for the full year, compared to $3.45 and $3.51 initially.

 

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