Zoom Video Communications Shares Up 5% on Solid Q1 Results
<p><a href='https://financialmodelingprep.com/financial-summary/ZM'>Zoom Video Communications, Inc. (NASDAQ:ZM)</a> shares closed more than 5% higher on Tuesday following the company’s reported Q1 results, with EPS coming in at $1.03, versus the Street estimate of $0.86. Revenue rose 12% year-over-year to $1.07 billion, in line with the expectations.</p>
<p>Despite solid results, the company continued to see a year-over-year decline in its Online business and reported a deceleration in up-market customer growth and a contraction in its Enterprise NDER. </p>
<p>Oppenheimer analysts said they are comfortable with management's Enterprise execution and ability to drive more expansion; however, they are also cautious the Online business could remain volatile throughout 2023 and be a meaningful swing factor in management's ability to deliver on its H2/23 revenue growth acceleration. </p>
<p>The analysts remain cautious near-term, looking for better signs of stability in Zoom's Online business.</p>

NASDAQ:ZM