Zoom Video Communications, Inc. (NASDAQ: ZM), a leading provider of frictionless enterprise communications, today announced it will release its financial results for the second quarter of fiscal year 2022 on Monday, August 30, 2021, after the market closes.
Zoom Video Communications (NASDAQ:ZM) reports second quarter earnings for its fiscal 2022 year after the market closes on Monday, Aug. 30. Analysts are projecting $1.16 a share profit on sales of $991.21 million. The company zoomed past estimates in June, increasing its sales significantly as many companies still have most or large parts of their business staff work remotely.
Zoom gained about 400% last year during the height and the beginning of the COVID pandemic. Sales rose when remote work became a necessity for companies to keep employees on staff due to stay at home orders with the pandemic.
The remarkable financial results for fiscal 2021 reflect the increased adoption of our platform and our ability to execute under pressure. Total revenue for fiscal year 2021 grew 326% year over year to $2.7 billion.
GAAP net income attributable to common stockholders for the fiscal year was $672 million, or $2.25 per diluted share, up significantly from $22 million, or $0.09 per diluted share, in the prior year. Our net cash provided by operating activities grew 869% year over year to $1.5 billion. Fiscal 2021 also brought numerous challenges. In December 2019, we had a peak of 10 million daily meeting participants, but by April 2020, we were averaging 300 million daily meeting participants — 30x growth in about three months.
To meet the surge in demand, we worked tirelessly to increase our server capacity across our own data centers and the public cloud. Our team’s hard work helped ensure stable, uninterrupted video connectivity for our ballooning user base, and demonstrated the scalability of our platform.
As we scaled our infrastructure at an incredible pace, we also had to enhance our privacy, security, and user education operations to address concerns of our rapidly expanding and changing customer base.
We took immediate actions to strengthen trust with our community of users across enterprises, consumers, and governments. We implemented a 90-day laser-focused security plan; improved existing meeting features that help users manage their meeting privacy and security; appointed former U.S. National Security Advisor, Lieutenant General H.R. McMaster, and former U.S. Secretary of Homeland Security, Janet Napolitano, to our board of directors; launched our Trust Center; and acquired the Keybase team to lead development of our end-to-end encryption option. cy, and transparency of our platform. Source Zoom Investor Relations Annual Report