Thursday, June 8, 2023

Zoom earned 14.3 million euros during its first fiscal quarter, 86.4% less

The video conferencing app Zoom Video Communications registered an attributed net profit of 15.4 million dollars (14.3 million euros) in its first fiscal quarter, ended in April, which represents a decline of 86.4% of the multinational’s profits.

Zoom revenue for the quarter increased 2.9% year-on-year to $1,105 million (€1,024 million). At the end of the period, Zoom had 215,900 enterprise customers, an increase of 9%, while users who contribute more than US$100,000 (€92,675) annually amounted to approximately 3,580, an increase of 23%.

On its side, revenue costs amounted to US$263.9 million (€244.6 million), while sales, marketing, general, administrative costs and R&D accounted for 831.7 million dollars (€770.8 million). Total activity costs amounted to US$1,096 million (€1,016 million), 24% more than the previous US$883.7 million (€819 million).

“Our customers consider Zoom critical to their internal and external objectives around the world,” said the company’s founder and CEO, Eric Yuan.

“This relationship with our clients helped us to exceed our forecasts thanks to the growth in business services and the stabilization of online incomewhile driving greater efficiencies in our business to deliver strong profitability and free cash flow margin,” he added.

Facing the end of the current financial year, Zoom is confident of raising its annual income to a range of between US$4,465 and 4,485 million (€4,138 and 4,156 million), while the diluted earnings per share for the entire year will range between 4.25 (€ 3.94) and $4.31 (€3.99).


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