Zoom: Q1 revenue up 191% YoY to $956.2M

Tuesday, 01. June 2021 22:08

Zoom Video Communications Inc. announced on Tuesday its revenue in the first fiscal quarter jumped 191% per annum to land at $956.2 million. Net income was $227.4 million, up from $27.1 million in the same three-month period last year, or $0.74 per share.

The tech company reported that the number of customers with more than 10 employees rose 87% year-over-year to 497,000. Meanwhile, 1,999 customers contributed more than $100,000 in trailing 12 months revenue. This marks an approximate 160% improvement from the same quarter last fiscal year.

"We kicked off the fiscal year with a very strong first quarter, posting 191% total year-over-year revenue growth combined with strong profitability and cash flow. Our steadfast commitment to empowering customers to work and learn from anywhere with our expansive, innovative, and frictionless video communications platform continued to drive our results," Zoom CEO Eric Yuan said in the press release, adding that the company expects its full-year revenue to be between $3.975 billion and $3.990 billion.

Following the report, shares of Zoom fell 2.66% in the after-hours trade.

Related Links: Zoom Video Communications Inc.
Author:
Breaking the News / MD