Posted 2/26/2024, 10:04:00 PM
Zoom Tops Estimates with Strong Earnings and Revenue Growth; Announces $1.5B Buyback and Upbeat 2025 Outlook
- Zoom reported better-than-expected earnings and revenue for the January quarter, with enterprise revenue up 5% year-over-year
- Zoom announced a $1.5 billion share buyback program, which analysts say lowers the likelihood of a major acquisition
- Zoom's 2025 earnings outlook exceeded analyst estimates, projecting $4.86 per share vs $4.66 expected
- Zoom saw strong adoption of new offerings like Contact Center, Zoom Phone, and AI capabilities
- Zoom faces tough competition from Microsoft Teams, though Zoom's stock popped 12% on the positive quarterly results