Read more: Zoom faces a threat from Microsoft Teams, but how great is the risk?
He also saw more worrisome results internationally than in the U.S., with a second consecutive quarterly decline in the European region and sequentially flat sales in the Asia Pacific quadrant. M Science’s software analyst Charles Rogers believes users aren’t jumping to other platforms, but cutting the service because of inflation and more relaxed pandemic guidelines. The company also faces stiff competition from Microsoft Corp. A group of Apple employees on Monday launched a petition asking CEO Tim Cook for a more flexible work policy. all of whom are sitting on acres of unused commercial real estate and asking workers to come in at least twice a week - could have a profound impact on Zoom. Google and Facebook parent company Meta Platforms Inc. The ongoing friction between employees who wish to continue to work from home and employers like Apple Inc. “It was a mixed quarter, with enterprise proving to be strong,” Steckelberg told MarketWatch. Zoom Phone licenses hit a record of nearly 4 million, up more than 100% year-over-year. Discovery Inc.Īnd others, as well as longer deals. Enterprise customers improved 18% to 204,100 over the past year through contracts with UCLA, Warner Bros. The news wasn’t all bad - Zoom’s enterprise business, which sells subscriptions to larger organizations, grew 27% to $599 million. Steckelberg told MarketWatch that the time cap has had a “significantly positive impact” so far, but admitted in the conference call it was “not enough to overcome the macro dynamics.” Zoom recently installed a 40-minute limit on users with a Basic, or free, subscription, which Mizuho Securities analyst Siti Panigrahi said could be a way to push more users to become paying subscribers. “The big challenge is new customer additions,” she said. An increase in one-on-one meetups, vacations and hybrid work schedules have altered the post-pandemic business cycle for Zoom, executives acknowledge, and getting users to pay is harder. Many aren’t flocking to the service as often or for as long as they did during the peak of the pandemic, when many Americans were working almost exclusively from home and socializing with friends over the service. In an interview with MarketWatch and a conference call Monday afternoon, Steckelberg acknowledged that individuals and small businesses have changed their habits. dollar, performance of the online business, and to a lesser extent sales weighted to the back end of the quarter,” Steckelberg said in a statement included with the results. “Our revenue was impacted by the strengthening of the U.S.
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