Zoom (ZM) Q4 2026 Earnings
How Did ZM Stock React to Q4 2026 Earnings?
S&P 500 over the same 30 days: −8.32%.
Did ZM Beat Earnings? Q4 2026 Results
No. Zoom reported Q4 2026 earnings of $1.44 a share on Feb 25, 2026, missing the $1.49 consensus estimate by 3.1%. Revenue was $1.2B against a $1.2B estimate.
Zoom delivered a standout fourth quarter for fiscal 2026, posting non-GAAP EPS of $1.44 against a consensus estimate of $0.85, a beat of 69.41%, while revenue of $1.25 billion edged past expectations by 0.60% and grew 5.3% year over year. The headline earnings outperformance was substantially shaped by $532.33 million in gains on strategic investments, though the underlying business also showed genuine momentum; Enterprise revenue climbed 7.1% to $757.30 million, and the company's large-customer cohort grew 9.3% to 4,468 accounts contributing more than $100,000 in trailing revenue. CEO Eric Yuan pointed to Zoom's Customer Experience segment, which posted accelerating high-double-digit growth, as a key strategic pillar, with paid AI featured in each of the top 10 CX deals in the quarter. At least one analyst firm has maintained a Buy rating on the stock with a $115 price target, reflecting continued confidence in the platform's direction. Looking ahead, Zoom guided fiscal 2027 revenue of $5.07 to $5.08 billion, crossing the $5 billion milestone for the first time.
- Enterprise revenue growth of 7.1% YoY driven by large customer acquisition
- 9.3% YoY growth in customers contributing more than $100,000 in trailing 12-month revenue
- Accelerating adoption of Zoom Customer Experience with embedded AI
- Revenue growth acceleration of 130 basis points in FY26 to 4.4%
“In FY26, revenue growth accelerated 130 basis points to 4.4%, reflecting the growing adoption of Zoom as a system of action for modern work. As work increasingly starts in conversations, customers are choosing Zoom to turn those conversations into completed workflows across customer-facing and internal use cases. In Q4, we saw accelerating, high-double-digit growth in Zoom Customer Experience, with paid AI included in each of our top 10 CX deals, underscoring the value of live context and automated follow-through. As we enter FY27, we expect to surpass the $5 billion revenue milestone and remain focused on delivering durable, profitable growth and long-term shareholder returns.”
Zoom CEO, on the earnings call
What Was Zoom's Outlook in Q4 2026?
For Q1 FY2027, Zoom expects total revenue of $1.220–$1.225 billion, non-GAAP operating income of $487.0–$492.0 million, and non-GAAP diluted EPS of $1.40–$1.42 on approximately 304 million diluted shares. For full fiscal year 2027, the company expects total revenue of $5.065–$5.075 billion, non-GAAP operating income of $2.050–$2.060 billion, non-GAAP diluted EPS of $5.77–$5.81 on approximately 308 million diluted shares, and free cash flow of $1.700–$1.740 billion. The company expects to surpass the $5 billion revenue milestone in FY27. EPS and share count guidance excludes any impact from $1.0 billion of authorized share repurchase remaining as of January 31, 2026.
ZM YoY Financials
| Metric | Q4 2026 | Q4 2025 | Year over year |
|---|---|---|---|
| Revenue | $1.2B | $1.2B | +5.3% |
| Gross Profit | $951.3M | $896.8M | +6.1% |
| Operating Income | $249.9M | $225.1M | +11.0% |
| Net Income | $674.1M | $367.9M | +83.2% |
ZM Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.