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).
As the company bets on a hybrid work model and raises guidance, retail remains the primary buyer.