ZOOM UNVEILS FIRST QUARTER FISCAL YEAR 2022 FINANCIAL RESULTS

KUALA LUMPUR, June 2 (Bernama) -- Zoom Video Communications Inc recently announced financial results for the first fiscal quarter ended April 30.

“We kicked off the fiscal year with a very strong first quarter, posting 191 per cent total year-over-year revenue growth combined with strong profitability and cash flow,” said Zoom founder and chief executive officer, Eric S. Yuan in a statement.

“Our steadfast commitment to empowering customers to work and learn from anywhere with our expansive, innovative, and frictionless video communications platform continued to drive our results.

“We have also opened our technology portfolio to developers through our powerful video SDK and to businesses to expand their reach through Zoom Events,” he added.

Among highlighted, in First Quarter Fiscal Year 2022, total revenue was US$956.2 million, up 191 per cent year over year; GAAP income from operations for the first quarter was US$226.3 million, up from US$23.4 million in the first quarter of fiscal year 2021; and GAAP net income attributable to common stockholders for the first quarter was US$227.4 million, or US$0.74 per share, up from US$27.0 million, or US$0.09 per share in the first quarter of fiscal year 2021.

In addition, total cash, cash equivalents, and marketable securities, excluding restricted cash, as of April 30, was US$4.7 billion, while net cash provided by operating activities was US$533.3 million for the first quarter, compared to US$259.0 million in the first quarter of fiscal year 2021. (US$1 = RM4.125)

For Second Quarter Fiscal Year 2022, total revenue is expected to be between US$985.0 million and US$990.0 million and non-GAAP income from operations is expected to be between US$355.0 million and US$360.0 million.

Meanwhile, for Full Fiscal Year 2022, total revenue is expected to be between US$3.975 billion and US$3.990 billion. Non-GAAP income from operations is expected to be between US$1.425 billion and US$1.440 billion.

Founded in 2011, Zoom is headquartered in San Jose, California.

-- BERNAMA