It's Tuesday, August 31st. Welcome to Market, Florida. I'm Chris Hill with me today from

the financial capital of the United States of America. It's Maria Gallagher. Thanks for

being here. Thanks so much for having me. We've got a parallel retail. We have an interesting

transaction between two tech companies, but we're going to begin today with Zoom video.

The highlight of Zoom's second quarter report is the fact that revenue was not only higher

than expected. It topped $1 billion for the first time ever, but growth is slowing down

and investors really don't seem to like that because shares of Zoom are down 15 percent

today.

Yeah, it was a stellar quarter. Their revenue was about a billion, 54 percent, which exceeded

their guidance. And it was their first billion dollar revenue quarter. Their customer spending

over $100,000 is up 131 percent. They have over 500,000 customers with over 10 employees.

Their net dollar expansion rate in customers with more than 10 employees is above 130 percent

for the 13th consecutive quarter. They've had strong international growth with international

growth about up about 62 percent and compared to America's growth of about 50 percent.

And they have a total cash of over $5 billion. So I think I don't really understand. It

was a really stellar quarter for Zoom. It's continuing to do well, especially with comparative

to last year with the law of large numbers. It's much harder to have that growth over 300

percent as we had seen in 2020. But they're consistently delivering. And with all of that

cash, I just think that they're going to continue to innovate. And I'm excited to see

what they do.

Yeah. And I don't have shares of Zoom video in my portfolio. And I have to say I'm a little

surprised at this because it really seems like not that there are no switching costs involved.

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