Zoom Third Quarter Report Outperforms Market Expectations

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Zoom’s third-quarter financial results exceeded market estimates as the Company reported a non-GAAP net income of $338.4 million in the third quarter.

While analysts had expected an estimated earning of $1.09 per share on revenue of $1.02 billion, the company reported total revenue of $1.051 billion, up 35% from a year earlier. In the third quarter, Zoom recorded a total of 2,507 customers contributing more than $100,000, up 94% from a year earlier.

According to Zoom, these customers accounted for 22% of its revenue in the third quarter.

For the fourth quarter of fiscal 2022, Zoom forecasts revenue of between $1.051 billion and $1.053 billion, while non-GAAP diluted EPS is estimated at $1.06 to $1.07.

Analysts, on the other hand, forecast fourth-quarter revenue of $1.02 billion and EPS of $1.06, while Zoom expects revenue of $4.079 to $4.081 billion in 2022, with non-GAAP diluted EPS estimated at $4.84 to $4.85.

For more information read the original story in ZDNet.

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