ZC

Zoom Communications, Inc.

Q2 FY26Software

Zoom Communications, Inc. Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹100

Market cap₹29.5K Cr

P/E14.7

Updated29 May 2026

Read4 min read

What the Q2 FY26 call signalled

2 of 3 strong

RevenueSlow growth

MarginMargins slightly up

CapexCapex planned

The short version

- Q1 FY27 revenue grew 5.5% YoY to $1.24 billion, exceeding guidance and among the best recent growth rates. - For Q2 FY27, Zoom expects revenue between $1.265 billion to $1.27 billion, representing 4.1% year-over-year growth at midpoint.

From Zoom Communications, Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Slow growth

Q1 FY27 revenue grew 5.5% YoY to $1.24 billion, exceeding guidance and among the best recent growth rates.
Full year FY27 revenue guidance raised to $5.08-$5.09 billion, reflecting 4.4% YoY growth at midpoint.
Q2 revenue guidance: $1.265-$1.27 billion, ~4.1% YoY growth at midpoint.
Enterprise business growing strongly at 7.2% YoY, representing 61% of total revenue, with increasing large customers.
Online business expected to show slight growth in FY27, but deceleration from Q2-Q4 due to FX and comps.
AI monetization and product diversification are key drivers of durable revenue growth.
Larger, longer-term multiproduct platform deals driving RPO growth (+11% YoY).

2 more points from Zoom Communications, Inc.'s call on revenue

Pro opens every point from 15K+ earnings calls

Profitability & Margins

For Q2 FY27, Zoom expects revenue between $1.265 billion to $1.27 billion, representing 4.1% year-over-year growth at midpoint.
Non-GAAP operating income guidance for Q2 is $508 million to $513 million, with an operating margin of 40.3% at midpoint.
Non-GAAP EPS for Q2 is expected to be between $1.45 and $1.47.
For full FY27, revenue guidance is raised to $5.08 billion to $5.09 billion, a 4.4% year-over-year growth at midpoint.
Full-year non-GAAP operating income is expected between $2.065 billion and $2.075 billion, equating to a 40.7% operating margin at midpoint.
Full-year non-GAAP EPS guidance is increased to $5.96 to $6.00.

2 more points from Zoom Communications, Inc.'s call on margins

Pro opens every point from 15K+ earnings calls

See what Zoom Communications, Inc. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned

The transcript does not provide explicit details about current or future capital expenditures (capex) or strategic capital investments.
The focus is primarily on AI innovation, product development, and co-innovation with customers rather than capital investments.
Zoom is heavily investing in AI technology and R&D, spending approximately 26% of revenue on R&D, indicating a strategic focus on technology and talent rather than physical capital assets.
There is mention of potential acquisitions for innovative technology or services they cannot build internally, signifying strategic investments via acquisitions.

2 more points from Zoom Communications, Inc.'s call on capex

Pro opens every point from 15K+ earnings calls

Fundraising & Capital Structure

No mention of any current or planned new fundraising through debt or equity in the provided transcript.
The company highlighted a strong cash position with $7.7 billion in cash, equivalents, and marketable securities.
Zoom announced a $1 billion incremental share repurchase authorization, indicating confidence and use of cash for buybacks rather than raising new capital.

2 more points from Zoom Communications, Inc.'s call on fundraising

Pro opens every point from 15K+ earnings calls

See what Zoom Communications, Inc. said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The provided pages from the document do not explicitly mention current or expected order book or pending orders in specific terms. However, relevant insights related to customer deals and demand include: - Strong performance in large deals noted, e.g., deals over $1 million were one of the strongest seen in Q1. - Enterprise revenue grew 7.2% year-over-year, with 8% growth in customers contributing more than $100K trailing 12-month revenue. - High double-digit growth in Zoom Customer Experience (ZCX) driven by paid AI in 9 of the top 10 ZCX deals. - Increasingly winning larger and competitive deals with customer consolidation of contact center and UC systems.

2 more points from Zoom Communications, Inc.'s call on order book

Pro opens every point from 15K+ earnings calls

Others in Software this season

Figma, Inc. (Q2 FY26)
Figma, Inc. Q2 FY26 quarterly results analysis. Q2 2026 revenue guidance: $348M - $350M, implying 40% YoY growth at midpoint. Market Cap $12,396, P/E 65.1. AI-p
TeraWulf Inc. (Q2 FY26)
TeraWulf Inc. Q2 FY26 quarterly results analysis. HPC lease revenue is rapidly growing, increasing 117% from $9.7M in Q4 ’25 to $21M in Q1 ’26, with more data h
Tyler Technologies, Inc. (Q2 FY26)
Tyler Technologies, Inc. Q2 FY26 quarterly results analysis. Revenue guidance for 2026 raised, primarily due to the acquisition of For The Record (FTR), contrib
Hut 8 Corp. (Q2 FY26)
Hut 8 Corp. Q2 FY26 quarterly results analysis. Revenue grew approximately 226% year-over-year to $71 million, driven primarily by the compute segment, with gro

Compare:vs Microsoft Corporation vs Palantir Technologies Inc.vs Palo Alto Networks, Inc.

🔎 Who's planning the most growth?

Companies ranked by management's own guidance — revenue, margins, capex and order book, from every earnings call in India.

See rankings →

Arthneeti Pro · Annual

Zoom Communications, Inc. and 15K+ more earnings calls,
for less than your morning chai

a day

Every earnings call, ranking and concall Q&A across all four results seasons.

Secure Razorpay payment · instant access

Frequently Asked Questions

What were Zoom Communications, Inc. Q2 FY26 results?

- Q1 FY27 revenue grew 5.5% YoY to $1.24 billion, exceeding guidance and among the best recent growth rates. - For Q2 FY27, Zoom expects revenue between $1.265 billion to $1.27 billion, representing 4.1% year-over-year growth at midpoint.

What is Zoom Communications, Inc. share price analysis?

Zoom Communications, Inc. currently shows a neutral. The stock trades at a P/E of 14.7 with a market cap of $29,458. Investors should review the full earnings analysis for detailed insights.

Is Zoom Communications, Inc. planning capital expenditure?

- The transcript does not provide explicit details about current or future capital expenditures (capex) or strategic capital investments.

Keep Zoom Communications, Inc. on your radar — track it to get its next earnings analysis in your feed.

This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.