Zoom Video Communications said revenues passed the USD 1 billion mark for the first time in a quarter, as the company expanded beyond its UC platform, launching Zoom Apps and Zoom Events amid covid-19 lockdowns. Revenues passed expectations in the second quarter to end July, rising 54 percent from the year before to USD 1.021 billion. The company has therefore again improved its full-year forecast.
The operating profit rose to USD 294.6 million from 188.1 million while the adjusted operating profit went higher to USD 424.7 million from 277.0 million. The net profit climbed to USD 316.9 million or USD 1.04 per share, from 185.7 million and 0.63 per share. The adjusted net profit increased to USD 415.1 million or USD 1.36 per share, from 274.8 million and 0.92 per share. The company ended the quarter with a cash position of USD 5.1 billion, with an operating cash flow advancing to USD 468.0 million from 401.3 million and free cash flow up at USD 455.0 million from 373.4 million.
Zoom had 504,000 customers with more than 10 employees, from 497,000 at end April and jumping 36 percent from the year before. A full 2,278 customers contributed over USD 100,000 in trailing 12 months revenue, from 1,999 in the previous quarter and up 131 percent from the year earlier.
Looking ahead to its fiscal third quarter, Zoom is guiding for revenues of USD 1.015-1.020 billion, an adjusted operating profit of USD 340-345 million and adjusted diluted EPS at USD 1.07-1.08.
For the full year, the company now sees revenues at USD 4.005-4.015 billion, the adjusted operating profit at USD 1.500-1.510 billion and adjusted diluted EPS at USD 4.75-4.79. The company had early estimated revenues at USD 3.975-3.990 billion and adjusted EPS at USD 4.56-4.61.
