Zoom (NASDAQ: ZM ) shares gained more than 1% after-hours following the company’s reported Q3 results, with EPS of $1.29 coming in better than the consensus estimate of $1.08.
Revenue grew 3.2% year-over-year to $1.14 billion, beating the consensus estimate of $1.12B. Enterprise revenue was $660.6 million, up 7.5% year-over-year, while Online revenue was $476.1M, down 2.4% year-over-year.
At the end of Q3, the company reported approximately 219,700 Enterprise customers, up 5.0% year-over-year, with 3,731 customers contributing more than $100,000 in trailing 12 months revenue, representing approximately 13.5% year-over-year growth.
“In Q3, revenue came in ahead of guidance as we bolstered Zoom’s all-in-one intelligent collaboration platform with advanced new capabilities like Zoom AI Companion and continued to evolve our customer and employee engagement solutions. We are also pleased with our Online business where we drove higher retention and saw usage of our new AI capabilities, enhancing the value of our platform,” said CEO Eric S. Yuan .
For Q4/24, the company expects EPS in the range of $1.13-$1.15, compared to the consensus of $1.00, and revenue in the range of $1.125-$1.13B, compared to the consensus of $1.13B.
For the full year, the company sees EPS at $4.93-$4.95, compared to the consensus estimate of $4.27, and revenue at $4.506-$4.511B, compared to the consensus estimate of $4.5B.
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