Zoom Video Communications, Inc. has announced financial results for the first fiscal quarter ended April 30, 2021.

The company’s total revenue for the first quarter of the fiscal year 2022 was $956.2 million, up 191 per cent year over year.

Total revenue was driven by factors including acquisition of new customers and expanding across existing customers. At the end of the first quarter of fiscal year 2022, Zoom had nearly 497,000 customers with more than 10 employees, up approximately 87 per cent from the same quarter last fiscal year.

The company had 1,999 customers contributing more than $100,000 in trailing 12 months revenue, up approximately 160 per cent from the same quarter last fiscal year.

It also had a trailing 12-month net dollar expansion rate in customers with more than 10 employees above 130 per cent for the 12th consecutive quarter.

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For its second quarter fiscal year 2022, as per the guidance provided by the company, it is expecting total revenue to be between $985-$990.0 million. Total revenue for the full fiscal year 2022 is expected to be between $3.975- $3.990 billion.

“We kicked off the fiscal year with a strong first quarter, posting 191% total year-over-year revenue growth combined with strong profitability and cash flow. Our steadfast commitment to empowering customers to work and learn from anywhere with our expansive, innovative, and frictionless video communications platform continued to drive our results. With this solid start, we are pleased to raise our total guidance range to $3.975 billion to $3.990 billion for the full fiscal year,” said Zoom founder and CEO, Eric S. Yuan.

“We have also opened our technology portfolio to developers through our powerful video SDK and to businesses to expand their reach through Zoom Events. We are energised to help lead the evolution to hybrid work that allows greater flexibility, productivity, and happiness to both in-person and virtual connections,” added Yuan.

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