Zoom Video Communications reports strong financial results with revenue growth and positive outlook.

From GlobeNewswire: 2024-05-20 16:05:00

Zoom Video Communications, Inc. announced strong first quarter financial results, with total revenue reaching $1,141.2 million, a 3.2% increase year over year. The company saw growth in Enterprise revenue, operating cash flow, and repurchased shares of common stock. CEO Eric S. Yuan highlighted AI integration in products like Zoom Contact Center and Zoom Workplace.

Revenue in constant currency was up 3.5% year over year, reaching $1,143.6 million. GAAP operating margin was 17.8% and non-GAAP operating margin was 40.0%. Net cash provided by operating activities was $588.2 million, a 40.6% increase from the previous year. Zoom also shared customer metrics, showing growth in customer acquisitions and Enterprise customers.

Looking ahead, Zoom provided guidance for the second quarter and full fiscal year 2025. For the second quarter, total revenue is expected between $1.145 billion and $1.150 billion, with non-GAAP diluted EPS between $1.20 and $1.21. Full fiscal year 2025 revenue is anticipated between $4.610 billion and $4.620 billion, with non-GAAP diluted EPS between $4.99 and $5.02. Share count figures exclude authorized share repurchases remaining as of April 30, 2024.

Zoom is known for its mission to provide a platform that fosters human connection, with products like Zoom Workplace and Business Services for customer care teams. The company continues to innovate and adapt, incorporating AI to improve productivity, streamline communication, and enhance customer relationships. Founded in 2011, Zoom is headquartered in San Jose, California and publicly traded on NASDAQ under the symbol ZM.



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