Zoom Video Communications, Inc. announced quarter one earnings on 5/23/2022, beating the market expectations. This quarter, the company showed slowing growth but raised full-year guidance and following quarter guidance as shares rose in after-hours trading.
Revenue – $1.07 billion, meeting expectations and up by 12%
Adjusted EPS – $1.03, beating expectations by $0.17
Enterprise Customers – Up 24% year over year
The company increased its full-year guidance from $3.45 – $3.51 EPS to $3.70 – $3.77 EPS. Although Zoom anticipates a great year, this quarter shows the slowest quarterly growth since 2019 (IPO year).
Cathie Wood’s infamous ARKK fund has consistently been adding shares of Zoom since December of 2020 as the price per share consistently trends downward.
As the company bets on a hybrid work model and raises guidance, retail remains the primary buyer.
