NASDAQ$ZM
Zoom Video Communications Inc · Q1 2026 earnings
Q1 2026 earnings · · After market close · Investor relations
Briefing
Zoom reported solid financial results for Q1 FY2026, surpassing revenue and EPS guidance.
Zoom delivered stronger-than-expected performance in Q1 FY2026 with revenue growth, robust net income, and increased share repurchases, driven by enterprise adoption and AI-powered product innovation.
- Total revenue reached $1.1747 billion, up 2.9% year over year.
- GAAP EPS came in at $0.81 and Non-GAAP EPS at $1.43.
- Net income rose to $254.6 million, compared to $216.3 million a year ago.
- Zoom repurchased approximately 5.6 million shares, up from 4.3 million in Q4.
Headline financials
Revenue & EPS history
Zoom · Revenue · Quarterly
$1.17B
Revenue by segment
Zoom · $1.24B total across 2 segments · Q1 2027
- Enterprise$756M—61.0%
- Online$483M—39.0%
Forward guidance
Zoom expects moderate growth in Q2 and FY2026, with steady enterprise momentum and strong free cash flow outlook, while macro uncertainties and lower online revenue may present headwinds.
Tailwinds
- Q2 revenue expected between $1.195B and $1.200B.
- Non-GAAP EPS guidance for Q2 is $1.36–$1.37.
- Full-year revenue forecast between $4.800B and $4.810B.
- Strong full-year free cash flow guidance between $1.680B and $1.720B.
- Continued focus on shareholder returns with $1.2B in remaining authorized buybacks.
Headwinds
- Online revenue showed a year-over-year decline.
- Macroeconomic uncertainty may affect customer spending.
- Operating cash flow declined compared to Q1 FY2025.
- Churn remains a challenge in the online segment despite improvements.
- Limited upside in enterprise net dollar expansion rate, currently at 98%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
+2.5%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+1.6%
Avg return
30 days after
42%
13 / 31 earnings
Positive
+52.9%
Q2 2021
Best reaction
-18.3%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | -11.6% | -14.0% | -9.0% | |
| Q3 2026 | +9.8% | +8.1% | +11.7% | |
| Q2 2026 | +12.7% | +10.6% | +15.0% | |
| Q1 2026 | -0.1% | -4.1% | -5.2% | |
| Q4 2025 | -8.5% | -9.1% | -5.3% | |
| Q3 2025 | -2.9% | -3.7% | -0.2% | |
| Q2 2025 | +15.1% | +20.6% | +14.2% | |
| Q1 2025 | -0.5% | -1.8% | -12.4% | |
| Q4 2024 | +7.5% | +11.8% | +5.1% | |
| Q3 2024 | +2.8% | +0.6% | +9.0% | |
| Q2 2024 | -0.7% | +2.1% | +3.8% | |
| Q1 2024 | -5.4% | -4.5% | -3.5% | |
| Q4 2023 | +0.9% | -4.2% | -4.5% | |
| Q3 2023 | -5.5% | -7.6% | -14.3% | |
| Q2 2023 | -18.3% | -18.2% | -23.7% | |
| Q1 2023 | +5.1% | +23.0% | +28.3% | |
| Q4 2022 | -2.0% | -13.1% | -2.3% | |
| Q3 2022 | -17.8% | -12.4% | -23.1% | |
| Q2 2022 | -15.1% | -12.5% | -24.5% | |
| Q1 2022 | -1.3% | +1.3% | +16.6% | |
| Q4 2021 | -0.2% | -9.7% | -14.0% | |
| Q3 2021 | -13.8% | -13.1% | -25.1% | |
| Q2 2021 | +52.9% | +23.6% | +57.1% | |
| Q1 2021 | +9.7% | +1.7% | +28.2% | |
| Q4 2018 | +28.9% | +11.6% | +21.2% | |
| Q4 2020 | +6.4% | -3.2% | +9.1% | |
| Q3 2020 | -10.3% | -7.7% | -3.8% | |
| Q2 2018 | -1.1% | +3.7% | -12.5% | |
| Q2 2020 | -8.7% | -14.1% | -18.2% | |
| Q1 2018 | +28.4% | +29.4% | +15.7% | |
| Q1 2020 | +20.5% | +21.6% | +17.7% | |
| Q4 2019 | — | — | — | |
| Q3 2018 | — | — | — |
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