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Oct 31, 2022
Zoom Q3 2023 Earnings Report
Zoom's Q3 2023 financial results were announced, demonstrating revenue growth and strong profitability.
Key Takeaways
Zoom Video Communications reported a 5% year-over-year increase in total revenue, reaching $1,101.9 million in Q3 2023. Enterprise revenue grew by 20% year-over-year, while non-GAAP operating margin stood at 34.6%. The company is focused on expanding its platform and addressing the evolving needs of its customers in flexible work environments.
Total revenue reached $1,101.9 million, a 5% increase year-over-year.
Enterprise revenue grew by 20% year-over-year, reaching $614 million.
GAAP operating margin was 6.0%, while non-GAAP operating margin was 34.6%.
Non-GAAP net income per share was $1.07.
Forward Guidance
Zoom provided guidance for Q4 2023 and full fiscal year 2023, expecting revenue between $1.095 billion and $1.105 billion for Q4, and between $4.370 billion and $4.380 billion for the full year. They anticipate non-GAAP diluted EPS between $0.75 and $0.78 for Q4, and between $3.91 and $3.94 for the full year.
Positive Outlook
- Total revenue is expected to be between $1.095 billion and $1.105 billion for Q4 2023.
- Revenue in constant currency is expected to be between $1.120 billion and $1.130 billion for Q4 2023.
- Non-GAAP income from operations is expected to be between $316.0 million and $326.0 million for Q4 2023.
- Non-GAAP diluted EPS is expected to be between $0.75 and $0.78 for Q4 2023.
- Total revenue is expected to be between $4.370 billion and $4.380 billion for the full fiscal year 2023.
Challenges Ahead
- A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis.
- The free cash flow outlook range assumes that the Section 174 tax legislation requiring capitalization of R&D expenses will be repealed or deferred by Congress by the end of this fiscal year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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