Its shares hit a record high on Monday ahead of the earnings statement, and then shot up by as much 28% in after-hours trading once the numbers were out.
“As remote work trends have accelerated during the pandemic, organizations have moved beyond addressing immediate business continuity needs to actively redefining and embracing new approaches to support a future of working anywhere, learning anywhere, and connecting anywhere,” Zoom CEO Eric Yuan said Monday in an earnings call.
By the end of July, Zoom had about 370,000 corporate customers with more than 10 employees, up nearly 460% from a year ago. Its biggest paying customers — those that pay more than $100,000 a year for the service — more than doubled to 988 compared with the same quarter a year ago.
By geography, combined revenues from Asia Pacific and Europe, the Middle East and Africa, soared more than 600% to account for one third of the total. Revenue from the Americas increased by nearly 300%.
“We will continue to invest in international expansion to capitalize on our brand awareness and the increased global opportunity,” Yuan said.