Zoom’s second quarter financial results beat top and bottom-line market estimates, the company reported Monday, with total quarterly revenue exceeding $1 billion for the first time in the company’s history.
However, shares were down in after-hours trading.
Zoom’s non-GAAP net income for the quarter was $415.1 million, or $1.36 per share. Total revenue for the second quarter came to $1.021 billion, up 54% year-over-year.
Analysts were expecting earnings of $1.16 per share on revenue of $990.96 million.
“In Q2, we achieved our first billion dollar revenue quarter while delivering strong profitability and cash flow,” Zoom founder and CEO Eric S. Yuan said in a statement. “Q2 also marked several milestones on our expansion beyond the UC platform. We launched Zoom Apps, bringing over 50 apps directly into the Zoom experience, and Zoom Events, an all-in-one digital events service. Today we are a global brand counting over half a million customers with more than 10 employees, which we believe positions us extremely well to support organizations and individuals as they look to reimagine work, communications, and collaboration.”
Zoom said its revenue growth was the result of both new customers and expanded customer sales.
At the end of the second quarter, the company had 2,278 customers contributing more than $100,000 in trailing 12 months revenue, up approximately 131% from the same quarter last fiscal year. It had approximately 504,900 customers with more than 10 employees, up approximately 36% from a year prior.
For the third quarter of fiscal 2022, Zoom is expecting revenue between $1.015 billion and $1.020 billion.
For the full fiscal year 2022, it expects revenue between $4.005 billion and $4.015 billion.
