This week Zoom announced its fiscal year 2023 second-quarter results. The numbers show a company with slowing growth: the $1.1 billion in sales were $20 million short of analysts’ expectations, and on the earnings call, management cited several issues causing headwinds, including a stronger US dollar, which had an impact on about $8M, weak on-line sales and the war in Ukraine.
Even more concerning is the company’s future sales guidance: Zoom is forecasting revenue of $1.09-$1.1 billion for Q3 2023, while Wall Street analysts had forecast $1.15 billion, and it’s expecting the full fiscal year revenue to be $4.38-$4.39 billion, shy of analysts’ $4.53 billion consensus.
