Zoom Communications, Inc. · ZM · Next earnings

Zoom Communications, Inc. reports Monday, Nov 23, 2026

ZM reports after market close with consensus EPS at $1.49 and revenue at $1.28B. Last quarter: Zoom raises outlook as enterprise growth and AI adoption accelerate

Reports After market close19 days awayDate estimated Technology

What the street expects

Consensus for the coming report
Consensus EPS $1.49 Calendar consensus
Consensus revenue $1.28B Calendar consensus
Report date Nov 23, 2026 Monday, date estimated
Session After market close 19 days away

Where ZM left off: FY2027 Q2

Full report

Zoom raises outlook as enterprise growth and AI adoption accelerate

EPS surprise +4.7% Reported $1.55 vs $1.48
Revenue surprise +0.8% Reported $1.28B vs $1.27B
Stock move -7.0% Event window
Subsequent drift -5.4% Up to 20 sessions

Management raised full-year revenue and EPS guidance and lowered capex guidance, supporting a higher free-cash-flow outlook.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • White-label churn was identified as a roughly 40-basis-point top-line headwind.
  • AI compute costs and new pricing models could pressure gross margins.
  • Competition is intensifying across AI-driven CCaaS and UCaaS.
  • Macroeconomic uncertainty and reliance on large enterprise contracts could affect growth.

Questions analysts left open

  • Sustainability of Phone demand and its runway as an entry point.
  • Drivers behind strong RPO growth and the composition of large deals.
  • AI pricing and compute costs could pressure margins.
  • Competition from OpenAI, Microsoft Teams, and CCaaS vendors.

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Recent ZM quarters

All ZM earnings
-7.0%FY2027 Q2+9.2%FY2027 Q1-11.6%FY2026 Q4+9.8%FY2026 Q3

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2027 Q2

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.