By Denny Jacob
Zoom Video Communications is scheduled to report its first-quarter results for fiscal 2024 after the market closes on Monday. Here’s what you need to know.
NET INCOME: Zoom is expected to post a loss of $67.8 million, compared with $113.6 million in net income a year earlier, according to FactSet
REVENUE: The San Jose, Calif.-based company is expected to log $1.08 billion in revenue, up from $1.07 billion in the year-ago period, according to FactSet.
ADJUSTED EARNINGS: The videoconferencing company is expected to report adjusted earnings of 99 cents a share compared with $1.03 a share a year earlier, according to FactSet.
WHAT TO WATCH
OUTLOOK: Zoom’s quarterly results will be watched closely given the precarious environment companies, particularly those in technology, are facing amid persistent inflation and a slower economy. The company previously forecast revenue between $4.44 billion and $4.46 billion for fiscal 2024.
ARTIFICIAL INTELLIGENCE: Look for commentary from Zoom on artificial intelligence and if any other inroads are being explored. The company released Zoom Virtual agent, a conversational AI and chatbot solution, at the close of the prior fiscal year. “The age of AI and large language models has arrived, and we want to empower smarter experiences and the workflows that truly enable our customers to benefit from these transformational tools,” Chief Executive Eric Yuan said in February when talking about Zoom’s priorities in fiscal 2024.
Write to Denny Jacob at [email protected]
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