[OC] How Zoom makes money (visualization of the earnings they just released)Submitted by IncomeStatementGuy t3_11e106g in dataisbeautiful
IncomeStatementGuy OP t1_jabvjns wrote
Reply to comment by fh3131 in [OC] How Zoom makes money (visualization of the earnings they just released) by IncomeStatementGuy
It's their fiscal year 2023 which ended on January 31 2023.
Confusing.. companies should just stick with January 1 to December 30 fiscal years if you ask me.
fh3131 t1_jabw46w wrote
Wow, I had never heard of a fiscal year ending on 31st January, thanks for clarifying
Redditaccount2322 t1_jacvdl4 wrote
Our FY ends in January 31st as well. It's fairly common in tech I believe for 2 reasons --
- Provides additional time to close enterprise deals after the end of the year - closing deals December 31st can be challenging, to say the least
- Reduces cost of accounting because most firms end their FY December 31st which is busy season for the big 4
Retail companies sometimes do this as well - or end a full quarter after March 31st instead of Dec 31st. Good luck to all the EY, PWC, DeLoitte people if every company ended Dec 31st lol
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