(Tiper Stock Exchange) – Zoom Video Communicationsa US company that became known during the pandemic for its video conferencing program, has closed its second quarter of fiscal year 2024 (ended July 31, 2023) with total revenue of $1,138.7 million, up 3.6% year over year. Enterprise revenues were $659.5 million, up 10.2% year over year, while Online revenues were $479.2 million, down 4.3% year over year.
L’Net income was $182 million, or $0.59 per share, compared to net income of $45.7 million, or $0.15 per share, in the second quarter of fiscal 2023. Theadjusted net earnings per share it was $1.34.
The analysts they expected average earnings per share of $1.05 on revenues of $1.12 billion, according to Refinitiv data.
“Our mission to provide unlimited human connection remains paramount while we continue to innovate and expand our platform to help bring value and improve productivity to our customers with new AI features like Zoom IQ Meeting Summary and Team Chat Compose, as well as Intelligent Director,” said Eric S. Yuanfounder and CEO of Zoom.
Management has raised the forecast for the full year. Zoom now sees adjusted earnings per share of $4.63 to $4.67 and revenues of $4.485 to $4.495 billion. Three months ago, it was targeting adjusted earnings per share of $4.25 to $4.31 and revenue of $4.465 to $4.485 billion. Analysts were expecting guidance for $4.30 of adjusted earnings per share on $4.49 billion of revenue.