ZM Q2 net income surges 330% to $1.54B on $1.54B Anthropic gain; operating income falls 2%

Filed August 26, 2026 · Period ending July 31, 2026 · Compared to 10-Q Aug 22, 2025 · ~2 min read

Key Changes

• high

  Net income rose 330% to $1.5B ($5.15 diluted EPS) on a $1.6B unrealized gain from Anthropic's May 2026 financing round, while operating income declined 2% to $314M—the earnings increase did not come from operations.

  MD&A: Non-operating income / Notes: Strategic investments verify on EDGAR →
• high

  Acquired Common Room ($267M) and BrightHire ($98M) to add AI-native go-to-market intelligence and interview automation; launched ZoomMate agentic AI product and AI Productivity Suite (Canvas, Slides, Sheets, Paper) to compete with Microsoft 365 and Google Workspace.

  MD&A: Product launches / Notes: Acquisitions verify on EDGAR →
• high

  Large enterprise customers ($100K+ trailing 12-month revenue) grew 8% to 4,625; net dollar expansion rate improved from 98% to 99%, indicating slower seat-count contraction among existing Enterprise customers but still below 100%.

  MD&A: Customer metrics verify on EDGAR →