Zoom has reported strong double-digit growth across its top and bottom line in its third-quarter fiscal year 2022 results, not surprisingly.
Total revenues for the quarter reached $1.050 billion, up 35 percent year on year.
While GAAP operating income rose 51 percent to $290 million for the three months ended October 31.
Zoom CFO, Kelly Steckelberg said that in the third-quarter total revenue grew 35 percent year over year to $1.05 billion, exceeding the high end of its guidance of $1.02 billion. “The growth was primarily driven by strength in our direct and channel businesses, which grew at twice the rate of our online business, as well as improved churn in both online and direct segments.
“From a product perspective, we saw strong demand for Zoom Video Webinars, Zoom Rooms, and Zoom Phone. Zoom Phone had year over year revenue growth in the triple-digits and reached 30 customers with over 10,000 paid seats.”
Zoom said that it needs to acquire new customers and expand use across existing customers if it is to continue growing
At the end of the third quarter of the fiscal year 2022, Zoom had 2,507 customers contributing more than $100,000 in trailing 12 months revenue, up 94 percent from the same quarter last fiscal year.
The company also had 512,100 customers with more than ten employees, up 18 percent from the same quarter last fiscal year.
It also saw a trailing 12-month net dollar expansion rate in customers with more than ten employees above 130 per cent for the fourteenth consecutive quarter.
“These trends suggest that our customers with more than ten employees are expanding their use of our platform and adding more products and seats, aligned with our go-to-market strategy”, Steckelberg added.
