(RTTNews) - Zoom Communications Inc. (ZM) reported that its net income for the third quarter rose to $207.1 million or $0.66 per share, from $141.2 million or $0.45 per share, in the third quarter of fiscal year 2024. The company changed its corporate name to Zoom Communications Inc. from Zoom Video Communications Inc.
Zoom's Board of Directors authorized the repurchase of an additional $1.2 billion of Zoom's outstanding Class A common stock. This authorization is in addition to the amount remaining under the prior authorization for the share repurchase program, for a total of approximately $2.0 billion remaining to be repurchased.
Looking ahead for the fourth quarter, the company expects non-GAAP income from operations to be between $443.0 million and $448.0 million and non-GAAP earnings per share of $1.29 to $1.30. It projects fourth quarter total revenue to be between $1.175 billion and $1.180 billion, and revenue in constant currency of $1.174 billion to $1.179 billion.
For fiscal year 2025, the company now expects non-GAAP income from operations to be between $1.813 billion and $1.818 billion, and non-GAAP earnings per share of $5.41 to $5.43. Previously, the company expected annual non-GAAP income from operations to be between $1.790 billion and $1.800 billion and annual non-GAAP earnings per share of $5.29 to $5.32.
The company now expects total revenue for fiscal year 2025 to be between $4.656 billion and $4.661 billion and revenue in constant currency of $4.661 billion to $4.666 billion. Previously, it expected annual total revenue to be between $4.630 billion and $4.640 billion and revenue in constant currency of $4.641 billion to $4.651 billion.
Zoom reported non-GAAP net income for the third quarter was $435.1 million or $1.38 per share compared to $401.2 million, or $1.29 per share in the prior year.
Total revenue for the third quarter was $1.18 billion, up 3.6% year over year.
At the end of the third quarter of fiscal year 2025, Zoom had 3,995 customers contributing more than $100,000 in trailing 12 months revenue, up 7.1% from the same quarter last fiscal year. Online average monthly churn of 2.7% for the third quarter, down 30 bps from the same quarter last fiscal year.
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