Zoom Video Communications has raised its outlook again, after reporting better-than-expected results for its fiscal third quarter. Revenues in the three months to October rose 35 percent to USD 1.051 billion, beating the company's guidance, and Zoom now expects annual growth of around 54 percent.
Adjusted operating profit for the third quarter rose 41 percent to USD 411.3 million, and adjusted EPS improved to USD 1.11 from USD 0.99 a year ago. Both figures were better than Zoom's forecast issued in August. Free cash flow was down slightly year-on-year to USD 374.8 million, and Zoom ended the quarter with total cash cash and equivalents of USD 5.4 billion.
At the end of October, Zoom counted 512,100 customers with more than 10 employees, up 18 percent from a year ago. Over 2,500 customers contributed more than USD 100,000 in trailing 12 months revenue, up 94 percent year-on-year.
Looking ahead to its fiscal fourth quarter, Zoom is guiding for revenues of USD 1.051-1.053 billion, an adjusted operating profit of USD 361-363 million and adjusted diluted EPS at USD 1.06-1.07.
For the full year, the company now sees revenues at USD 4.079-4.081 billion, the adjusted operating profit at USD 1.598-1.600 billion and adjusted EPS of USD 4.84-4.85, up from USD 3.34 the previous year.
