Zoom shares jumped more than 7% in extended trading on Monday after the video communications company reported better-than-expected Q4 FY2023 earnings.
Zoom earned $1.12B in revenue, up 4% YoY. The company reported a non-GAAP net income of $366.6M, or $1.22 a year, down from a net income of $393.6M reported in Q4 FY22.
Full-year 2023 revenue came in at $4.39B, up 7% YoY.
- At the end of Q4 FY23, Zoom had about 213,000 Enterprise customers, up 12% YoY.
- Enterprise revenue was $636.1M for Q4, up 18% YoY, and $2.41B for the full year, up 24% YoY.
- Zoom expects Q1 FY2024 revenue to be between $1.080B and $1.085B, and for the full year, the company expects total revenue between $4.435B and $4.455B.
- Earlier this month, the company cut 15% of its workforce, or about 1,300 workers, as part of a restructuring strategy.
