Zoom Video lost business in Asia Pacific, EMEA

Zoom said it generated 71 percent of its revenue from Americas, 16.3 percent from EMEA, and 12.7 percent from the Asia Pacific region.
Zoom revenue Q1 2023Zoom said it generated revenue of $785 million (+8 percent) from Americas, $180 million (–8 percent) from EMEA, and $141 million (–5 percent) from the Asia Pacific region.

For the first quarter ended on April 30, Zoom has posted total revenue of $1,105.4 million (+ 3 percent). Zoom’s Enterprise revenue was $632.0 million (+13 percent), while Online revenue was $473.4 million (– 8 percent).

Zoom expects online revenue to reach nearly $480 million in the second quarter and remain relatively stable throughout fiscal year 2024.

Zoom Video Communications has revised its revenue and profit forecasts upwards for its fiscal year.

The company, which gained recognition during the pandemic, has faced increasing competition from well-funded rivals like Microsoft’s Teams, Cisco’s Webex, and Salesforce’s Slack as offices reopen.

Zoom, headquartered in San Jose, California, now anticipates annual revenue in the range of $4.47 billion to $4.49 billion, reflecting a modest growth rate of approximately 2 percent compared to the previous year. This revised forecast surpasses the earlier projection of $4.44 billion to $4.46 billion.

Zoom caters to a range of customers, from individuals to small- and medium-sized businesses, with enterprise customers constituting larger organizations.

At the end of the first quarter of fiscal year 2024, Zoom had:

Approximately 215,900 Enterprise customers, up 9% from the same quarter last fiscal year.

A trailing 12-month net dollar expansion rate for Enterprise customers of 112%.

3,580 customers contributing more than $100,000 in trailing 12 months revenue, up approximately 23% from the same quarter last fiscal year.

Online average monthly churn of 3.1% for Q1, down 50 bps from the same quarter last fiscal year.

The percentage of total Online MRR from Online customers with a continual term of service of at least 16 months was 72.0%, up 700 bps year over year.

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