NASDAQ$ZM
Zoom Video Communications Inc · Q4 2026 earnings
Q4 2026 earnings · · After market close · Investor relations
Briefing
Zoom reported Q4 fiscal 2026 revenue of $1.25 billion, up 5.3% year over year, with GAAP diluted EPS of $2.22 and non-GAAP EPS of $1.44.
Zoom posted Q4 FY26 revenue of $1,247.0 million (+5.3% YoY, +4.8% constant currency) with enterprise revenue of $757.3 million (+7.1%). GAAP operating margin was 20.0% and non-GAAP 39.3%; GAAP net income was $674.1 million ($2.22 EPS) and non-GAAP EPS $1.44. Full-year revenue was $4,868.8 million (+4.4%) with non-GAAP EPS $5.92. FY27 guidance targets revenue of $5.065–5.075 billion and non-GAAP EPS of $5.77–5.81 with FCF of $1.70–1.74 billion.
- Q4 revenue $1.25B (+5.3% YoY); enterprise revenue +7.1%.
- 4,468 customers >$100k TTM revenue (+9.3% YoY).
- FY26 revenue growth accelerated 130 bps to 4.4%; FCF $1.92B (+6.4%).
- FY27 revenue guide ~$5.07B; non-GAAP EPS $5.77–5.81.
Headline financials
Revenue & EPS history
Zoom · Revenue · Quarterly
$1.25B
Revenue by segment
Zoom · $1.24B total across 2 segments · Q1 2027
- Enterprise$756M—61.0%
- Online$483M—39.0%
Forward guidance
For FY27, Zoom guides total revenue of $5.065–5.075 billion, non-GAAP operating income $2.05–2.06 billion, non-GAAP diluted EPS $5.77–5.81, and free cash flow $1.70–1.74 billion as it scales AI Companion and customer-experience products.
Tailwinds
- Expects to surpass $5B revenue milestone in FY27.
- High-double-digit growth in Zoom Customer Experience with AI in top deals.
- Strong balance sheet (~$7.8B cash and marketable securities).
Headwinds
- Enterprise net dollar expansion rate 98% (contraction).
- Online churn 2.9% vs 2.8% prior year quarter.
- GAAP EPS inflated by investment/tax items vs operating EPS.
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 Q4 2026
+2.7%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+1.3%
Avg return
30 days after
44%
14 / 32 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 | +9.3% | +3.4% | -10.6% | |
| 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 | — | — | — |
Discussion
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