Zoom’s third quarter results show that the big question for the company is whether sales to enterprises will be strong enough to compensate for slowing growth of online, or consumer, revenue as businesses bring workers back to the office in the wake of the pandemic.
Zoom’s third-quarter 2022 revenue, announced Monday, rose 5% year-over-year to $1.1 billion, but in the previous quarter, total revenue grew 8%.
Third quarter enterprise revenue was $614.3 million, up 20% year over year. However, online revenue was down 9% year over year, totalling $487.6 million. The decline in online sales along with growing expenses led to a 23% drop, to $66.5 million, in net income from operations.