Zoom Video Communications, Inc posted a weaker-than-anticipated revenue outlook for the first quarter and full year, according to a press release by Zoom on Monday.
- Zoom’s revenue jumped 21% from a year earlier. That’s a slowdown from 35% growth in the prior quarter.
- Net income of the company rose 88% in the quarter to $490.5 million as gross margin edged up to 76% from 74.2% in the prior quarter.
- Zoom stated that it had 509,800 customers with more than 10 employees at the end of January, lower than 512,100 reported in October.
- Meanwhile, in the upcoming Q1 of 2022, Zoom is expecting revenue that’s below analyst estimates. Sales in Q1 will range between $1.07 billion to $1.075 billion, a 12% revenue growth.
For the current fiscal year, the company projects $4.53 billion to $4.55 billion in revenue, signaling 10.7% growth. ZM down -3.27%, Pre-market trading.