Zoom Q3 2024 Earnings Report
Key Takeaways
Zoom Video Communications reported a 3.2% year-over-year increase in total revenue for Q3 2024, reaching $1,136.7 million. The company's GAAP operating margin was 14.9%, and non-GAAP operating margin reached 39.3%. Zoom raised its full-year outlook for revenue, non-GAAP profitability, and free cash flow.
Total revenue increased by 3.2% year-over-year to $1,136.7 million.
Enterprise revenue grew by 7.5% year-over-year to $660.6 million.
GAAP operating margin was 14.9%, while non-GAAP operating margin was 39.3%.
Free cash flow was $453.2 million, up 66.2% year-over-year.
Zoom
Zoom
Forward Guidance
Zoom provided guidance for the fourth quarter of fiscal year 2024, expecting total revenue between $1.125 billion and $1.130 billion, and non-GAAP diluted EPS between $1.13 and $1.15. Full fiscal year 2024 total revenue is expected to be between $4.506 billion and $4.511 billion, with non-GAAP diluted EPS between $4.93 and $4.95.
Positive Outlook
- Total revenue is expected to be between $1.125 billion and $1.130 billion.
- Revenue in constant currency is expected to be between $1.129 billion and $1.134 billion.
- Non-GAAP income from operations is expected to be between $409.0 million and $414.0 million.
- Non-GAAP diluted EPS is expected to be between $1.13 and $1.15.
- Approximately 312 million weighted average shares outstanding are expected.