By Yasin Ebrahim
Investing.com – Zoom Video Communications (NASDAQ:) (NASDAQ:ZM) reported Monday second-quarter earnings and revenue that markedly beat consensus estimates as the pandemic-led home-work-from trend boosting demand for video conference software.
The company reported earnings 92 cents, up from 8 cents a year earlier, on revenue of $663.5 million, up 355%, beating estimates for earnings of 45 cents on revenue $500.5 million.
“Organizations are shifting from addressing their immediate business continuity needs to supporting a future of working anywhere, learning anywhere, and connecting anywhere on Zoom’s video-first platform. At Zoom, we strive to deliver a world-class, frictionless, and secure communication experience for our customers across locations, devices, and use cases,” said Zoom founder and CEO, Eric S. . “Our ability to keep people around the world connected, coupled with our strong execution, led to revenue growth of 355% year-over-year in Q2 and enabled us to increase our revenue outlook to approximately $2.37 billion to $2.39 billion for FY21, or 281% to 284% increase year-over-year.”
Growth in customers with more than 10 employees jumped 458% year-on-year, the company said.
For the third quarter, the company sees earnings in the range of 73 cents to 74 cents on revenue of $685 million to $690 million.
Shares of Zoom jumped more than 8% in after-hours trading.
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