Zoom Video Communications (NASDAQ: ZM) has reported decrease adjusted earnings for the fourth quarter of 2023 when its revenues elevated. The firm additionally offered steering for the primary quarter and monetary 2024.
Adjusted earnings, excluding particular objects, dropped to $1.25 per share within the fourth quarter from $1.32 per share a 12 months earlier. On an unadjusted foundation, the corporate reported a internet lack of $104.1 million or $0.36 per share, in comparison with a revenue of $490.5 million or $1.60 per share within the fourth quarter of 2022.
At $1.12 billion, internet revenues have been up 4% year-over-year. The firm had round 213,000 Enterprise prospects on the finish of the quarter, up 12% 12 months over 12 months.
Check this area to learn administration/ analysts’ feedback on Zoom Video’s This fall 2023 earnings
“Zoom One adoption continued to accelerate and helped drive Zoom Phone to grow more than 100% year over year, surpassing 5.5 million seats in Q4. Our emerging technologies such as Zoom Contact Center picked up pace as customer experience teams recognized the value of a modern, integrated collaboration solution,” mentioned Zoom’s CEO Eric Yuan.