Zoom Communications reported fiscal second-quarter 2027 adjusted earnings of $1.55 per share on revenue of $1.28 billion, beating estimates of $1.48 and about $1.27 billion, with total revenue up 4.9% year over year. Enterprise revenue rose 7.8% to $787.5 million—its strongest growth in three years and 62% of the total—while online revenue rose just 0.6% to $489.7 million; customers generating more than $100,000 in trailing-12-month revenue climbed 8.2% to 4,625 and net dollar expansion ticked up to 99%. Adjusted operating margin was 40% versus 41.3% a year earlier amid higher AI usage-related costs. Remaining performance obligations rose 14% to $4.5 billion, free cash flow was solid, and the company ended with $7.2 billion in cash after repurchasing 3.7 million shares for $352 million, leaving roughly $1.3 billion of buyback authorization. Full-year FY2027 guidance was raised to revenue of $5.085 billion–$5.095 billion, adjusted EPS of $6.08–$6.12 and free cash flow of $1.78 billion–$1.82 billion, but third-quarter adjusted EPS was guided to $1.46–$1.48 versus a $1.50 estimate and revenue to $1.275 billion–$1.28 billion versus about $1.282 billion. The $250 million Common Room deal and Workvivo above $100 million in ARR add optionality. Shares were down 6% to $95.08 Wednesday morning after a larger premarket drop, while the iShares Expanded Tech-Software Sector ETF was little changed and peers such as Atlassian, HubSpot and Monday.com did not signal a sector selloff; Zoom was up 17% year to date through Tuesday.