Zoom reported Q2 revenue of $1.02 billion, up 54% year over year, beating estimates of $991.0 million, and reported adjusted earnings per share of $1.36 cents. The number of customers contributing more than $100,000 in trailing-12-month revenue is up approximately 131% to 2,278 customers.
The company is expecting Q3 total revenue to be between $1.015 billion and $1.020 billion, up 31% YOY, and for the full year to be approximately $4 billion.
Zoom has announced that it will acquire Five9, a cloud-based-contact-center-as-a-service provider, for $14.7 billion in stock. This will help both companies cross-sell their products as well as deliver better service to their customers. The future of communications in the real world and the virtual one is changing. Mark Zuckerberg has talked about it a lot lately with regard to the metaverse.
The way we interact with people should be more immersive, and Zoom CEO Eric Yuan said as much back in December of 2020: "People in video meetings will, in future, be able to feel their hands being shaken and smell coffee in their virtual space."
In my eyes, Zoom is building a platform for the future of communications, whether it's in the real or the virtual world.
For the full insight watch the video below.
*Stock prices used were the closing prices of September 1, 2021. The video was published on September 2, 2021.