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Jul 31, 2025
Zoom Q2 2026 Earnings Report
Zoom delivered strong Q2 results with solid revenue growth and expanded margins.
Key Takeaways
Zoom posted its best year-over-year revenue growth in nearly three years, with expanding operating margins and strong performance from enterprise customers.
Total revenue reached $1.217B, up 4.7% YoY
GAAP EPS grew 65.7% to $1.16; Non-GAAP EPS rose to $1.53
Enterprise revenue rose to $730.7M, up 7.0% YoY
Free cash flow increased to $508M, reflecting efficient operations
Revenue by Segment
Forward Guidance
Zoom raised its full-year revenue and earnings outlook following a strong Q2 performance.
Positive Outlook
- Q3 revenue expected between $1.210B–$1.215B
- Full-year revenue outlook raised to $4.825B–$4.835B
- Non-GAAP operating income guidance increased
- Non-GAAP EPS for FY26 expected at $5.81–$5.84
- Full-year free cash flow expected between $1.74B–$1.78B
Challenges Ahead
- Ongoing macroeconomic and geopolitical risks
- Stock-based compensation remains a significant expense
- Deferred revenue growth slowing sequentially
- Online segment growth only marginal at 1.4% YoY
- Cash and cash equivalents declined slightly from prior quarter
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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