Zoom (ZM) Q2 earnings: Taking a look at key metrics versus estimates

For the quarter ended July 2025, Zoom Communications (ZM) reported revenue of $1.22 billion, up 4.7% over the same period last year. EPS came in at $1.53, compared to $1.39 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.2 billion, representing a surprise of +1.66%. The company delivered an EPS surprise of +11.68%, with the consensus EPS estimate being $1.37.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Zoom performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Enterprise customers: 184,000 versus the four-analyst average estimate of 186,862.
• Customers >$100K TTM Revenue: 4,274 compared to the 4,233 average estimate based on three analysts.
• Current remaining performance obligation (RPO): $2.41 billion compared to the $2.45 billion average estimate based on three analysts.
• Remaining performance obligations (RPO): $3.98 billion versus the two-analyst average estimate of $4 billion.
• Non-current remaining performance obligation (RPO): $1.57 billion versus $1.53 billion estimated by two analysts on average.
• Revenue- Online: $486.6 million versus the three-analyst average estimate of $477.5 million.
• Revenue- Enterprise: $730.7 million versus $719.9 million estimated by three analysts on average.

Shares of Zoom have returned -5.1% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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