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Zoom reports sales growth and big increase in profits

Zoom reports sales growth and big increase in profits

Conferencing and comms vendor Zoom has reported steady growth for the fourth quarter and its full year.

Fourth quarter total revenue was $1.46 billion, up 2.6% year-over-year, and full-year sales reached $4.52 billion, a rise of 3.1% annually.

Enterprise revenue in the fourth quarter reached 667.3 million, up 4.9%, with full-year Enterprise sales at $2.61 billion, a jump of 8.7%.

At the end of the fourth quarter, Zoom had around 220,400 Enterprise customers, up 3.5% year-over-year, illustrating the channel opportunity for its many partners.

“During the year we unveiled Zoom AI Companion, our generative AI digital assistant, aimed at boosting productivity, enhancing team effectiveness, and fostering skill development across the Zoom platform,” said Eric Yuan, Zoom founder and CEO. “We're committed to democratising AI accessibility, offering it to all our customers regardless of business size, included at no extra charge with a paid license.”

He added: "Our team is dedicated to platform-wide innovation, introducing hundreds of new features, including those for Zoom Contact Center, which redefine the gold standard for customer experience.”

The GAAP income from operations for the fourth quarter was $168.5m, compared to a GAAP loss of $129.9m last time. The GAAP net income was $298.8m, compared to the GAAP net loss of $104.1m last year.

The full-year operating profit was $525.3m, compared to $245.4m in 2023. The net profit jumped from $103.7m to $637.5m.