The video conferencing application Zoom Video Communications posted an attributable net profit of $ 316.9 million (€ 268.5 million) between May and July, the company’s second fiscal quarter, representing a growth of 70.6 percent. of earnings as a reflection of the impulse of their activity by teleworking.
Zoom’s revenue for the quarter increased 54 percent year-on-year to $ 1,021.5 million (€ 866 million), an increase that nevertheless represents a substantial slowdown from previous quarters and suggests the impact of the return to the offices you may have in the Zoom business.
Thus, in the first six months of its fiscal year, the company obtained an attributable net profit of 544.3 million dollars (461 million euros), 156 percent more than a year earlier.
Likewise, Zoom’s turnover in the first half of the year increased by 99.4 percent, to 1,977.7 million dollars (1,676 million euros).
At the end of the second quarter, Zoom had around 504,900 corporate clients with more than a dozen employees, representing a growth of 36 percent over the same period of the previous fiscal year.
For the third quarter, the multinational expects to achieve a turnover of between 1,015 and 1,020 million dollars (860 and 864 million euros), which would represent an increase of 30 percent compared to the third quarter of the previous year.
Looking to the end of the current fiscal year, Zoom hopes to raise its annual income to a range of between 4,005 and 4,015 million dollars (3,394 and 3,402 million euros), while the diluted earnings per share for the entire fiscal year will oscillate between 4 , 75 and 4.79 dollars.
“In the second quarter, we achieved our first quarter with revenue of $ 1 billion while delivering strong profitability and cash flow,” said Zoom Founder and CEO Eric Yuan.
“Today we are a global brand with more than half a million customers with more than 10 employees, which we believe positions us extremely well to support organizations and individuals in their quest to reinvent work, communications and collaboration,” added.
Zoom shares suffered a drop of more than 15 percent on Wall Street as growth figures for the app business slowed as a result of the lifting of restrictions and the expectation of an increasing return of workers to the offices.