Zoom Video Communications Inc (NASDAQ:ZM) is trading lower Tuesday morning as investors worry about the post-pandemic durability of the company after Zoom issued weak guidance during its quarterly report.
The company's management remains optimistic.
"As we look forward, we have multi-year growth opportunities ahead," Zoom CFO Kelly Steckelberg said Tuesday on CNBC's "Squawk Box."
The Details: Zoom is excited about international opportunities and contact center expansion, as well as the prospects for Zoom Phone, which just had a record quarter, according to Steckelberg.
"We're really transitioning from being a killer app to being a multi-product platform that is going to serve all aspects of organization's communications of the future," she said.
Steckelberg told CNBC that many of Zoom's customers are Fortune 50 companies, which highlights how some of the biggest organizations are thinking about their work strategies for the future.
"Organizations are thinking about how they provide the flexibility that their employees want and Zoom is a critical part of that," she added.
Zoom customers love the simplicity of the platform, she said, adding that it's intuitive. As a result, Zoom continues to take market share, which is a big focus for the company, Steckelberg said.
The Last Word: When a customer goes about choosing a platform, Zoom wins because of its ease of use and total cost of ownership, the CFO said. A lot of Zoom's customers buy on a monthly basis, which can lead to volatility in its customer base, but after about a year, customers tend to stick with the platform, she explained.
"We start to see a lot of stability when those consumers hit like their 15-month mark with us and a larger and larger percentage of those customers are hitting that timeline so we expect to start to see more and more stability as we get towards the back half of [fiscal year 2023]."
ZM Price Action: Zoom has traded as low as $114.26 and as high as $440 over a 52-week period.
The stock was down 3.63% at $127.79 Tuesday morning.
Photo: courtesy of Zoom.
