• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Fintech

Zoom Revenue Is Off The Charts Right Now, Up About 355% From Last Year

by
September 1, 2020
in Fintech
Share on FacebookShare on Twitter

Zoom Video Communications shares rose as much as 10% in extended trading on Monday after the company reported fiscal second-quarter earnings that were better than analysts had expected and raised its full-year guidance significantly.

Revenue grew 355% on an annualized basis in the fiscal second quarter, which ended on July 31, and income neared $186 million. #zoom https://www.techbooky.com/post-title/zoom-revenue-quadruples/ Share on X

Here’s how the company did: 

  • Earnings: 92 cents per share, adjusted, vs. 45 cents per share as expected by analysts, according to Refinitiv.
  • Revenue: $663.5 million, vs. $500.5 million as expected by analysts, according to Refinitiv.

Revenue grew 355% on an annualized basis in the fiscal second quarter, which ended on July 31, and income neared $186 million, according to a statement. In the prior quarter Zoom’s revenue grew 169%.

People became more dependent on Zoom’s video-calling software for business, educational and personal use during the quarter, after the coronavirus pandemic led officials to direct people to stay home around the world, meaning that people could no longer meet in person as before. The company hired information security and diversity leaders, added Lt. Gen. Herbert Raymond “H.R.” McMaster to its board, announced plans for research and development centers in Phoenix and Pittsburgh, and said it acquired secure messaging start-up Keybase.

Zoom averaged 148.4 million monthly active users in the quarter, up 4,700% year over year, RBC analysts led by Alex Zukin wrote in a note distributed to clients on Aug. 17, citing data from app analytics start-up SensorTower. The analysts have the equivalent of a buy rating on Zoom stock.

Excluding the after-hours move, Zoom shares are up 369% since the beginning of the year, while the S&P 500 index is up about 9%. During Monday’s trading session Zoom stock increased almost 9%, while the Dow Jones Industrial Average and S&P 500 ended the day lower.

With respect to guidance, Zoom sees fiscal third-quarter earnings of 73 cents to 74 cents per share on an adjusted basis and $685 million to $690 million in revenue. Analysts polled by Refinitiv had been expecting adjusted earnings of 35 cents per share on $492.9 million in revenue.

Zoom raised its guidance for the full 2021 fiscal year. It called for $2.40 to $2.47 in adjusted earnings per share and $2.37 billion to $2.39 billion in revenue, implying 282% annualized revenue growth at the middle of the range.

This article first appeared on CNBC and you can read more here 

Related Posts:

  • Zoom’s Fiscal Second Quarter Revenue Falls Below…
  • Zoom Issues Better-than-expected First Quarter…
  • Cisco Reports Fiscal Fourth Quarter Earnings Results, Issues Better-than-expected Guidance For Its Full 2023 Fiscal Year
    Cisco Reports Fiscal Fourth Quarter Earnings…
  • Salesforce Reports Impressive Quarterly Results Alongside Weak Guidance For The Current Quarter And The Fiscal Full Year
    Salesforce Reports Impressive Quarterly Results…
  • DocuSign Shares Decline After The Company Reports…
  • Cisco Reports Lower-than-expected Earnings Results For Fiscal Third Quarter, Issues Weak Guidance
    Cisco Reports Lower-than-expected Earnings Results…
  • lenovo-yoga-book-feature-awesome-specs-android
    Apple Reports Impressive Fiscal Third Quarter…
  • AMD Reports Weaker-than-expected Earnings Results. Revenue Was, However, Up 29 Percent YoY
    AMD Reports Weaker-than-expected Earnings Results.…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Tags: earningsfinancerevenuevideo conferencingzoom

BROWSE BY CATEGORIES

Receive top tech news directly in your inbox

subscription from
Loading

Freshly Squeezed

  • AI Helps Google One Reach 150 Million Subscribers May 16, 2025
  • FT Lists Paymenow, TymeBank & Omnisient Among Africa’s Fastest-Growing Firms May 16, 2025
  • MoonPay and Mastercard Partner to Advance Stablecoin Payments May 16, 2025
  • Google Gemini Advanced Users Can Now Link to GitHub May 16, 2025
  • TikTok Accused of Violating EU Internet Content Rules May 15, 2025
  • Activists and Users Criticize NCC & Telcos Over Customer Penalties May 15, 2025

Browse Archives

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Apr    

Quick Links

  • About TechBooky
  • Advertise Here
  • Contact us
  • Submit Article
  • Privacy Policy

Recent News

AI Helps Google One Reach 150 Million Subscribers

AI Helps Google One Reach 150 Million Subscribers

May 16, 2025
FT Lists Paymenow, TymeBank & Omnisient Among Africa’s Fastest-Growing Firms

FT Lists Paymenow, TymeBank & Omnisient Among Africa’s Fastest-Growing Firms

May 16, 2025
MoonPay and Mastercard Partner to Advance Stablecoin Payments

MoonPay and Mastercard Partner to Advance Stablecoin Payments

May 16, 2025
Google Gemini Advanced Users Can Now Link to GitHub

Google Gemini Advanced Users Can Now Link to GitHub

May 16, 2025
TikTok Accused of Violating EU Internet Content Rules

TikTok Accused of Violating EU Internet Content Rules

May 15, 2025
Activists and Users Criticize NCC & Telcos Over Customer Penalties

Activists and Users Criticize NCC & Telcos Over Customer Penalties

May 15, 2025
  • Login

© 2021 Design By Tech Booky Elite

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • Artificial Intelligence
  • Gadgets
  • Metaverse
  • Tips
  • About TechBooky
  • Advertise Here
  • Submit Article
  • Contact us

© 2021 Design By Tech Booky Elite

Discover more from TechBooky

Subscribe now to keep reading and get access to the full archive.

Continue reading

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok