Zoom Video Communications 2Q Revenue Hit by Strong Dollar

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 [e-mail]

(END) Dow Jones Newswires

August 22, 2022 16:39 ET (20:39 GMT)

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