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Zoom (ZM) third quarter 2021 earnings



Eric Yuan, the founder of Zoom, delivered a speech at the opening bell ceremony held on NASDAQ in New York on April 18, 2019.

Got Betancur | Getty Images

After the company announced its third-quarter financial report and quarterly guidance that exceeded analyst expectations, Zoom Video Communications shares fell by about 5% in extended trading on Monday. Investors seem to be disappointed that this year̵

7;s accelerating revenue growth rate may slow.

The company’s approach is as follows:

  • income: According to Refinitiv’s data, adjusted earnings per share were 99 cents, while analysts expected earnings per share of 76 cents.
  • income: According to Refinitiv’s data, it was $777.2 million, while analysts expected it to be $694 million.

A statement said that as the coronavirus pandemic continues to push people to Zoom for work, school and family meetings, in the quarter ended October 31, Zoom’s revenue increased by 367% year-on-year. In the last quarter, revenue increased by 355%. In the previous quarter, revenue increased by 169%. More than 80% of revenue growth in the third quarter came from new customer subscriptions.

Zoom’s gross profit margin fell to 66.7% from 67.3% in the previous quarter. During the quarter, Zoom processed more free user combinations, including students and teachers who logged in after the school resumed learning. The company’s chief financial officer Kelly Steckelberg (Kelly Steckelberg) is expected to tell analysts during the Zoom webcast.

Zoom said that during the quarter, it had approximately 433,700 customers with 10 employees, a year-on-year increase of 485%, higher than the 355% increase in the previous quarter.

In this quarter, Zoom stated that its premium Zoom Phone cloud phone service has expanded to more than 40 countries and regions, and Zoom will be applied to smart home devices produced by Amazon, Facebook and Google. The company also released OnZoom, a tool for virtual live events that people can pay to participate in.

Zoom announced adjusted earnings per share for the fourth fiscal quarter of 77 cents to 79 cents, and revenues of US$806 million to US$811 million, which means that revenue in the middle of the range has increased by 329%. Analysts surveyed by Refinitiv expect on average its adjusted earnings per share of 66 cents and revenue of $730.1 million.

Excluding after-hours fluctuations, since the beginning of the year, Zoom stock has risen 591%, while the Standard & Poor’s 500 index has risen about 12% over the same period.

Executives will discuss the results with analysts on the Zoom webcast starting at 5:30 pm Eastern time.

This is breaking news. Please check for updates.

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