Zoom's stock jumps 19% as Q1 EPS tops estimates

Monday, 23. May 2022 22:07

Zoom Video Communications Inc. said on Monday its revenue for the first fiscal quarter of 2023 annually increased by 12% to reach $1.07 billion, with the number of enterprise customers expanding by 24%. However, the company's net income halved to $113.65 million, or $0.37 diluted earnings per share.

"We launched Zoom Contact Center, Zoom Whiteboard and Zoom IQ for Sales, demonstrating our continued focus on enhancing the customer experience and promoting hybrid work. We believe these innovative solutions will further expand our market opportunity for future growth and expansion with customers," CEO Eric Yuan noted.

Zoom's stock soared over 19% in the after-hours trading following the overperforming earnings announcement.

Related Links: Zoom Video Communications Inc.
Author:
Baha Breaking News (BBN) / ND