Zoom revenue up 3% in Q3

Zoom has announced financial results for the third fiscal quarter that ended October 31, with revenue up 3.2 per cent to $1,136.7 million.

The company also revealed it now has approximately 219,700 enterprise customers, up 5.0 per cent from the same quarter last fiscal year. 3,731 customers contribute more than $100,000 in trailing 12 months revenue, up approximately 13.5 per cent from the same quarter last fiscal year.

Eric Yuan, founder and CEO, Zoom, said, “In Q3, revenue came in ahead of guidance as we bolstered Zoom’s all-in-one intelligent collaboration platform with advanced new capabilities like Zoom AI Companion and continued to evolve our customer and employee engagement solutions.

“We are also pleased with our Online business where we drove higher retention and saw usage of our new AI capabilities, enhancing the value of our platform.

“Our strong performance across a number of metrics has enabled us to increase our full year outlook for revenue and non-GAAP profitability, as well as for free cash flow, which we now expect to be in the range of $1.34 billion to $1.35 billion, up approximately 13 per cent year over year.”

Zoom has also provided guidance on its financial outlook, with total revenue for the full fiscal year 2024 expected to be between $4.506 billion and $4.511 billion. Full fiscal year non-GAAP income from operations is expected to be between $1.740 billion and $1.745 billion.

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