Zoom (ZM) beat Q3 FY2024 revenue estimates with a 3.2% YoY

- 📈 Zoom (NASDAQ:ZM) beat Q3 FY2024 revenue estimates with a 3.2% YoY increase to $1.14 billion.
- 💹 Revenue guidance for the full year exceeded analysts' estimates, but Q4 guidance of $1.13 billion was 0.3% below expectations.
- 💰 Non-GAAP EPS improved to $1.29 per share, up from $1.07 per share in the same quarter last year.
- 📊 Free Cash Flow increased by 56.6% to $453.2 million, and Net Revenue Retention Rate was 105%.
- 🌐 Zoom reported 3,731 enterprise customers paying more than $100,000 annually, a slight increase from the previous quarter.
- 📉 Despite beating revenue expectations, Zoom's Q3 results showed a modest 3.2% YoY growth, prompting attention to sales decline and slowing large customer momentum.
- 📉 The net revenue retention rate of 105% missed expectations, but the market is rewarding Zoom for robust cash generation.
- 📊 Zoom's stock is up 6% post-reporting, trading at $70.02 per share with a market capitalization of $19.3 billion and a $6.49 billion cash balance.
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