Zoom Video Communications, Inc. (NASDAQ: ZM) has reported its financial results for the second fiscal quarter ending July 31, 2023. Eric S. Yuan, Zoom’s Founder and CEO, highlighted the company’s commitment to delivering unparalleled human connection. He emphasized ongoing innovation and platform expansion, introducing new AI features such as Zoom IQ Meeting Summary, Team Chat Compose, and Intelligent Director. Yuan commended the team’s efforts in reinventing customer experiences through Zoom Virtual Agent and Zoom Contact Center, which gained over 500 customers in Q2. The company achieved a GAAP EPS of $0.59 and a non-GAAP EPS of $1.34, reflecting substantial year-over-year growth. Zoom demonstrated strong operating discipline, realizing a 31% year-over-year increase in operating cash flow, reaching $336 million in Q2.
Total revenue for the third quarter was $1,136.7 million, up 3.2% year over year. Adjusting for foreign currency impact, revenue in constant currency was $1,140.7 million, up 3.5% year over year. Enterprise revenue was $660.6 million, up 7.5% year over year, and Online revenue was $476.1 million, down 2.4% year over year.
Key Highlights
- Third quarter total revenue of $1,136.7 million, up 3.2% year over year as reported
- Third quarter Enterprise revenue of $660.6 million, up 7.5% year over year
- Third quarter GAAP operating margin of 14.9% and non-GAAP operating margin of 39.3%
- Third quarter operating cash flow of $493.2 million, up 67.0% year over year
