- Zoom Video (NASDAQ:ZM) shares slide 6.3% AH despite reporting Q3 beats on the top and bottom lines with revenue up 367% Y/Y to $777.19M.
- The number of customers contributing more than $100,000 in TTM revenue increased 136% Y/Y to 1,289.
- Customers with more than 10 employees totaled 433,700, up 485% Y/Y and from 370,200 in Q2.
- FCF totaled $388.2M and Zoom ended the quarter with $730.4M in cash and equivalents.
- For Q4, Zoom forecasts revenue of $806-811M (consensus: $719M), non-GAAP income from operations of $243-248M, and non-GAAP diluted EPS of $0.77-0.79 vs. the $0.62 consensus.
- "Strong demand and execution led to revenue growth of 367% year-over-year with solid growth in non-GAAP operating income and cash flow in our third fiscal quarter. We expect to strengthen our market position as we finish the fiscal year with an increased total revenue outlook of approximately $2.575 billion to $2.580 billion for fiscal year 2021, or approximately 314% increase year-over-year," says CEO Eric Yuan.
- The prior full-year revenue forecast was for $2.37-2.39B and consensus estimates expected $2.4B.
- FY21 guidance also includes $865-870M in operating income and $2.85-2.87 EPS (consensus: $2.51).
- Press release.
- Previously: Zoom Video Communications EPS beats by $0.23, beats on revenue (Nov. 30 2020)
Zoom shares drop 6% despite raising guidance and Q3 revenue that more than quadrupled
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Symbol | Last Price | % Chg |
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ZM | - | - |
Zoom Video Communications, Inc. |