0IFS.LSE▲
Zoom Q2 Earnings Preview: Revenue Growth Expected to Slow
Zoom is set to report second-quarter earnings on Tuesday afternoon, with analysts expecting revenue to grow 4.2% year over year, a slight deceleration from the 4.7% increase recorded in the same quarter last year. The company beat revenue expectations last quarter, reporting $1.24 billion, up 5.5% year on year, and added 66 enterprise customers paying more than $100,000 annually to reach a total of 4,534. Analysts have generally reconfirmed their estimates over the last 30 days, and Zoom has a history of exceeding Wall Street's expectations. Peers RingCentral and 8x8 have already reported second-quarter results, with revenue growth of 5.9% and 4.9% respectively, both beating analyst expectations. Zoom shares are up 18.5% over the last month, heading into earnings with an average analyst price target of $116.35 compared to the current share price of $108.09.