Zoom Video Communications Inc (NASDAQ:ZM) share rose more than 7% after-hours following the company’s reported Q2 results, with EPS of $1.34 coming in better than the consensus estimate of $1.06.
Revenue grew 3.6% year-over-year (up 4.5% on constant currency basis) to $1.14 billion, beating the consensus estimate of $1.11B. Enterprise revenue increased 10.2% year-over-year to $659.5 million, while Online revenue fell 4.3% to $479.2M.
At the end of Q2, the company had approximately 218,100 Enterprise customers, representing a 6.9% year-over-year growth. The number of customers contributing more than $100,000 in trailing 12 months revenue grew 17.8% year-over-year to 3,672.
“Our mission of delivering limitless human connection remains core as we continue to innovate and expand our platform to help bring value and enhanced productivity to our customers with new AI features like Zoom IQ Meeting Summary and Team Chat Compose, as well as Intelligent Director,” said CEO Eric S. Yuan.
For Q3/24, the company expects EPS in the range of $1.07-$1.09, compared to the consensus of $1.03, and revenue in the range of $1.115-$1.12B, compared to the consensus of $1.13B.
For the full year, the company sees EPS at $4.63-$4.67, compared to the consensus of $4.30, and revenue at $4.485-$4.495B, compared to the consensus of $4.48B.