Zoom Video Communications’ (NASDAQ: ZM) second quarter 2021 results crushed the market’s estimates. Zoom stock, which hit a new 52-week high in today’s regular trading session, was trading up about 8% in the extended trading hours.
After adjusting for certain items, Zoom’s profit rose to $0.92 per share in the recently ended Q2 from a profit of $0.08 per share in the prior-year quarter. GAAP net income attributable to common stockholders was $0.63 per share compared to $0.02 in the prior-year period.
With a 355% year-over-year growth in revenue to $663.5 million in Q2, the company lifted its FY21 revenue outlook to a range of $2.37 billion to $2.39 billion, up 281% to 284% versus FY20. Non-GAAP EPS is expected to be between $2.40 and $2.47 for FY21.
For the third quarter of fiscal 2021, Zoom expects revenue to be between $685 million and $690 million and non-GAAP EPS is expected to be between $0.73 and $0.74.