Management reported in Q3 2022 that Zoom Phone saw triple-digit percentage revenue growth year over year.Ī growing company like Zoom is often unprofitable, but Zoom has strong financials already. Zoom Phone, which is the company's new unified communications app, is helping drive this spending.
Zoom's net dollar expansion rate in Q3 was above 130% for the 14th consecutive quarter, meaning that Zoom's existing customers are spending more once they begin using its products. That means Zoom managed to grow 51% on top of that crazy 2020 calendar year when the business exploded. Its full-year 2022 revenue guidance of $4 billion would mean 51% growth compared to fiscal 2021. 31, 2021), Zoom reported $1.05 billion in revenue, a 35% increase year over year.
In the third quarter of fiscal 2022 (ending Oct. Zoom Video's fundamentals remain intactīut just because Zoom couldn't maintain its triple-digit growth rate, it doesn't mean the company isn't still thriving. The stock price decline has been steep, possibly pushed lower by a broader market sell-off among growth stocks in 2021.
It only makes sense that as pandemic lockdowns eased and Zoom's temporary surge in growth faded, investors would begin to cool on the stock.
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