Zoom appears to have surprised even itself with better than expected performance that saw it sign up more new enterprise customers.
In its Q3 2024 results, the video conferencing giant revealed its overall customer base had risen 5.0% from the same quarter in the last financial year to number around 219,700 customers.
This user base also included 3,731 customers contributing more than $100,000 in trailing 12 months revenue, an increase of around 13.5% in Q3 2022, and leading the company to up its guidance for the next quarter.
Zoom success
“In Q3, revenue came in ahead of guidance as we bolstered Zoom’s all-in-one intelligent collaboration platform with advanced new capabilities like Zoom AI Companion and continued to evolve our customer and employee engagement solutions. We are also pleased with our Online business where we drove higher retention and saw usage of our new AI capabilities, enhancing the value of our platform,” said Eric S. Yuan, Zoom founder and CEO.
“Our strong performance across a number of metrics has enabled us to increase our full year outlook..." he added.
Zoom has been busy expanding its platform with a number of upgrades and updates in recent months as it looks to keep pace with rivals such as Microsoft Teams and Google Meet.
Most notably, it released its Zoom AI Companion in September 2023, providing users with a host of helpful prompts and tools themed around categorization, summarization and content generation.
The company then launched a suite of AI-themed upgrades a month later, including being able to see in-meeting questions, plus receive short meeting summary overviews before the full summary.
Elsewhere, it also revealed its own word processor offering, Zoom Docs, looking to help workers who split their time between home and the office. Again utlizing AI Companion, the platform allows users to bring in content from their video calls and meetings, as well as the Team Chat, to easily start writing and collaborating on documents such as an action list or wrap-up report.
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