- The video communications company Zoom (ZM, $97.44) bolts to the top after reporting second-quarter total sales of $1,099.5m, up 8% from the same period last year.
- The second quarter's GAAP income from operations was $121.7m, as opposed to the second quarter of the fiscal year 2022's GAAP income from operations of $294.6m. In addition, the second quarter's net cash generated by operating activities decreased from the first quarter of the fiscal year 2022's second quarter, which was $468m, to $257.2m.
- Analysts forecast that total sales would range between $4.385b and $4.395b for the entire fiscal year 2023. Non-GAAP income from operations for the entire fiscal year is anticipated to range between $1.440b and $1.450b. With roughly 307 million weighted average shares outstanding for the whole fiscal year, non-GAAP diluted EPS is anticipated to range between $3.66 and $3.69.
Why it matters
The expansion among current clients and the addition of new customers were the main drivers of overall revenue. The company reported having around 204,100 enterprise clients at the end of the second quarter of the fiscal year 2023, an increase of 18% from the same quarter of the previous fiscal year. Additionally, in the last 12 months, 3,116 customers contributed more than $100,000 in revenue, an increase of around 37% from the same period in the previous fiscal year.
