Zoom Video Q3 Earnings Highlights: Revenue Up 35%, $100K Customers Grow 94%

Zoom Video Communications ZM reported third-quarter financial results after market close Monday.

Here are the highlights for traders and investors.

What Happened: Zoom reported third quarter revenue of $1.05 billion, up 35% year-over-year. The figure came in ahead of the $1.02 billion consensus estimate. The company reported earnings per share of $1.11, beating a consensus estimate of $1.09.

Zoom reported its customers that contribute more than $100,000 in the trailing 12 months totaled 2,507, up 94% year-over-year.

The company had 512,100 customers with more than 10 employees, up 18% year-over-year. Zoom reported a trailing 12-month net dollar expansion rate in these customers of more than 130% for the 14th consecutive quarter.

Related Link: Why Zoom Video’s Growth Will Likely Surprise To The Upside Over The Next Year

What’s Next: Zoom highlighted several new products during the third quarter earnings report.

“In Q3, we held our premier user event, Zoomtopia, our Zoom Events service,” said Zoom founder and CEO Eric S. Yuan. “We showcased how Zoom is placing people at the center of our communications platform, connecting their disparate work streams into our technology, moving beyond enterprises’ ability to collaborate internally and empowering them to communicate face-to-face with their customers.”

The company sees full-year revenue coming in a range of $4.079 billion to $4.081 billion, up 54% year-over-year. Consensus estimates are full year revenue of $4.02 billion.

ZM Price Action: Shares closed Monday's regular session at $242.28.