Zoom's Q2 Net Income Soars to $1.54B on $1.61B Anthropic Gain; EDNY Probe Still Open
ZM sits 35% above its 52-week low of $70.7 on elevated volume (1.9× avg).
Summary
Zoom's Q2 net income of $1.54B was driven almost entirely by a $1.61B unrealized gain on its Anthropic investment, while the EDNY DOJ investigation remains ongoing.
Key Events · Earnings and Guidance · ZM
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Anthropic Gain Drives Q2 Net Income
Zoom recorded a $1.61B unrealized gain on its Anthropic preferred stock, pushing Q2 net income to $1.54B versus $358.6M a year ago. Operating income was $314.3M, down slightly from $321.7M.
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Revenue Growth Accelerates Modestly
Q2 revenue rose 4.9% YoY to $1.28B, with Enterprise revenue up 7.8% — the fastest growth in three years. Online revenue grew just 0.6%.
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EDNY Investigation Still Open
The DOJ's Eastern District of New York investigation into Zoom's China-related data practices remains ongoing with no estimable loss range. The NDCA concluded its probe on August 17, 2026 with no action, and the SEC closed its matter in July 2025.
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Common Room Acquisition Completed
Zoom acquired Common Room, an AI-native go-to-market intelligence platform, on July 17, 2026 for $266.8M all-cash, adding $198.8M in goodwill.
Analysis · ZM · Technology
Zoom's 10-Q confirms the Q2 beat already reported in the 8-K, but the full financials reveal the earnings quality story: nearly all of the $1.54B net income came from a non-cash $1.61B mark-to-market gain on its Anthropic preferred stock, not operations. Operating income actually declined slightly year-over-year. The filing also discloses that the EDNY DOJ investigation into China-related data practices remains open, while the NDCA and SEC matters have closed without action. Zoom continues aggressive buybacks, repurchasing $713.5M in shares during the half, with $1.3B remaining authorized.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 29.9% of the 1591 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.24%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ZM was trading at $95.67 on NASDAQ in the Technology sector, with a market capitalization of approximately $29.6B. The 52-week trading range was $70.70 to $114.74. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.