Zoom Reports Q3 FY2024 Earnings: $1.18B Revenue, $1.38 EPS, GAAP EPS $0.66, Operating Margin 15.5%, Announces $2B Buyback Plan

Nov 25, 2024, 09:08 PM

Zoom Communications, formerly known as Zoom Video Communications, reported its third-quarter earnings for fiscal year 2024, revealing a total revenue of $1.18 billion, which represents a 3.6% increase year-over-year. The company's non-GAAP earnings per share (EPS) was $1.38, surpassing analysts' expectations of $1.31. Additionally, GAAP net income for the quarter was reported at $207.1 million, or $0.66 per share, compared to $141.2 million, or $0.45 per share, in the same quarter last year. For the fourth quarter, Zoom provided guidance for revenue between $1.175 billion and $1.18 billion, with non-GAAP EPS projected between $1.29 and $1.30. The company also announced a $2 billion share buyback plan, although its stock fell approximately 5% in after-hours trading following the earnings release.