Zoom Video Communications 2Q Revenue Hit by Strong Dollar
August 22 2022 - 4:54PM
Dow Jones News
By Kathryn Hardison
Zoom Video Communications Inc. said the strong dollar and its
online business performance weighed down revenue in its second
quarter.
The video communications platform company posted net income
attributable to common stockholders of $45.7 million, or 15 cents
per share, for the period ending July 31, compared with $316.9
million or $1.04 per share, a year ago. Adjusted per-share earnings
were $1.05. Analysts polled by FactSet expected 94 cents.
Revenue rose 8% to $1.1 billion. Analysts expected roughly $1.12
billion.
Finance Chief Kelly Steckelberg said that the company saw
continued momentum with its enterprise customers, though the
company's revenue was hurt by the strengthening of the U.S. dollar
and the performance of Zoom's online business, "and to a lesser
extent sales weighted to the backend of the quarter."
The company had about 204,100 enterprise customers by the end of
the second quarter, up 18% from a year ago.
It also said the number of customers contributing more than
$100,000 in trailing 12 months revenue was up 37% from a year
ago.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
August 22, 2022 16:39 ET (20:39 GMT)
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