Zoom Q1 FY2027 Revenue Climbs 5.5% to $1.24 Billion as AI Companion Paid Users Surge 184% and Buyback Authorization Tops $1.6 Billion

Zoom Communications reported first-quarter fiscal 2027 revenue of $1.239 billion on May 21, up 5.5% year over year and above the high end of company guidance. Enterprise revenue rose 7.2% to $755.7 million while the trailing 12-month net dollar expansion rate for enterprise customers ticked up to 99% from 98%.

Profitability expanded sharply: GAAP operating margin reached 25.1%, up 450 basis points year over year, and non-GAAP operating margin came in at 41.1%, up 130 basis points. The board added $1.0 billion to the share repurchase authorization on top of the $625 million still available at the end of April, lifting total buyback capacity above $1.6 billion.

AI emerged as the centerpiece of the quarter. Paid users of AI Companion grew 184% year over year, and the My Notes feature crossed 1.5 million licensed users just four months after launch, signaling that Zoom is converting its AI roadmap into measurable monetization rather than free add-ons.