Shares of Zoom experienced their most substantial increase since early 2022 on Thursday after the teleconferencing company unveiled Q2 results that surpassed expectations and raised its yearly outlook.

The stock surged by 13%, closing at $68.04. Despite this surge, shares are still showing a 5.4% decrease for the year, contrasting with the Nasdaq’s 17% advancement over the same period.

Zoom announced that revenue for the quarter had risen by 2.1% from the previous year to $1.16 billion, exceeding the average analyst forecast of $1.15 billion by LSEG. Adjusted earnings per share stood at $1.39, surpassing the estimated average of $1.21.

For the entire fiscal year, Zoom has adjusted its revenue projection to fall within the range of $4.63 billion to $4.64 billion. The company’s previous forecast had the upper limit at $4.62 billion.

Though Zoom has faced challenges in reigniting growth post the pandemic-induced slowdown, the organization has achieved stability by reducing customer turnover and enhancing its contact center operations. CEO Eric Yuan mentioned during the call that Zoom secured its largest contact center client in the second quarter.

Despite these positive developments, Zoom’s shares are still down nearly 90% from their peak in October 2020.

In the second quarter, net income saw an increase to $219 million, or 70 cents per share, from $182 million, or 59 cents per share, in the same period the previous year.

Additionally, Zoom disclosed that CFO Kelly Steckelberg will be departing after the third-quarter results are disclosed. Yuan mentioned that the company has engaged an executive search firm to identify a successor for Steckelberg, who had joined Zoom in 2017.