Growth slows down but Zoom's Q1 results beat expectations

Growth slows down but Zoom
Zoom has posted its first quarter results, posting a total revenue of $1.1bn, up 3% year over year.

Zoom raised its annual revenue forecast to between $4.47bn and $4.49bn, representing growth of just about 2% from last year. Its earlier forecast was for $4.44bn to $4.46bn.

CEO Eric Yuan said the Q1 results reflect that online revenue is stabilising and that business efficiency has improved, allowing space for growth.

Enterprise business was one of the highlights as revenue rose 13% year-on-year. Zoom’s enterprise userbase stands at 215,900 customers which is a 9% increase from last year’s comparable quarter. 

In comparison, Zoom's main rival, Microsoft Teams has 300 million users.

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