Zoom Video - Still a zooming hypergrowth?

How did the company fare?

Is it still a hypergrowth stock?

Here are some key points I gather.

Even after adjusting for foreign currency impact, revenue in constant currency is USD 1.12 billion, up 5% YoY.

Some bright spot noticed is that Enterprise revenue grew 13% YoY to USD 632 million, partially offset by a drop in online revenue of 8% YoY.

GAAP operating income for Q1'24 is USD 9.7 million, compared to USD 187.1 million in Q1'23. Due to stock-based compensation and other items driving the operating expenses higher, operating income dropped.

Even though growth has slowed down rapidly, Zoom raised its full-year forecasts for revenue and profit even in the face of uncertainty.

The company believes that a hybrid work trend should sustain demand and further growth spurts.

DISCLAIMER
The information available in this article/report/analysis is for sharing and education purposes only. This is neither a recommendation to purchase or sell any of the shares, securities, or other instruments mentioned; nor can it be treated as professional advice to buy, sell or take a position in any shares, securities, or other instruments. If you need specific investment advice, please consult the relevant professional investment advice and/or for study or research only.