Zoom Shares Drop 4% Despite Beating Q3 Estimates With Earnings and Revenue Topping Forecasts

Benzinga 2024-11-26

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Zoom shares fell 4% in extended trading Monday despite reporting fiscal third-quarter results that topped estimates. Adjusted earnings per share and revenue both exceeded analyst expectations. Revenue grew 4% year-over-year, continuing a trend of single-digit growth since the pandemic. Enterprise customers increased by 800 in the quarter. Zoom's fiscal Q4 guidance aligns with expectations, while its raised fiscal 2025 outlook surpasses previous forecasts. Zoom stock is up 24% year-to-date, trailing the S&P 500’s 25% gain.

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