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Zoom (NASDAQ:ZM) shares dropped 4% after-hours following the company’s reported Q2 results and guidance cut.
Q2 EPS came in at $1.05, better than the consensus estimate of $0.94. Revenue grew 8% year-over-year to $1.1 billion, compared to the consensus estimate of $1.12 billion.
At the end of Q2, the company has approximately 204,100 Enterprise customers (up 18% year-over-year), with 3,116 customers (up 37% year-over-year) contributing more than $100,000 in trailing 12 months revenue.
“Businesses are drawn to the Zoom platform because of our innovation and modern architecture. Our recently launched Zoom Contact Center and Zoom IQ for Sales products saw some great early wins while Zoom Phone delivered milestone results, hitting a record number of licenses sold in the quarter and reaching nearly 4 million seats, up more than 100% year over year,” said Eric S. Yuan, the founder and CEO of Zoom.
The company expects Q3/23 total revenue in the range of $1.095-$1.100 billion and non-GAAP diluted EPS in the range of $0.82-$0.83.
For the full 2023-year, the company expects total revenue in the range of $4.385-$4.395 billion, worse than the consensus estimate of $4.54 billion. Non-GAAP diluted EPS is expected to be in the range of $3.66-$3.69.
