Many investors are likely still digesting the implications of Zoom Video Communications' (NASDAQ: ZM) incredible fiscal first quarter. The company's financial results and management's guidance obliterated analyst estimates. Fiscal first-quarter revenue soared 169% year over year, and the company doubled its revenue outlook for fiscal 2021. To better understand the growth stock's momentum and management's view for Zoom's growth opportunities, here's a look at some of the commentary from Zoom leadership during the videoconferencing company's fiscal first-quarter earnings call. Image source: Zoom Video Communications. Soaring demand As workers and consumers sheltered at home during the coronavirus pandemic, organizations turned to Zoom for video-based interaction and collaboration. Demand for Zoom's platform accelerated so significantly during the company's fiscal first quarter that management is referring to its current circumstances as a "new reality." To put this unprecedented environment into perspective for investors, Zoom CEO Eric Yuan summarized some key metrics for investors. Customers with more than 10 employees grew 354% year over year as we deployed millions of licenses for new customers in the quarter. One new banking customer deployed approximately 175,000 new Zoom enterprise licenses in the quarter. Usage by customers in the Global 2000 grew over 200% sequentially. We peaked at over 300 million daily meeting participants, free and paid, joining Zoom meetings in April 2020, up from 10 million in December 2019. Importantly, Yuan added that Zoom continues to see "elevated levels of participants even as governments around the globe have begun to ease stay-in-place restrictions." Zoom Phone presents a big growth opportunity While the surging demand for Zoom's platform during the pandemic was primarily related to its video offering, Yuan noted that investors shouldn't forget that the company offers Zoom Phone -- a system that unifies phone, chat, meetings, and video in one platform. "[Zoom Phone is] also a huge opportunity," said Yuan. Zoom CFO Kelly Steckelberg explained that there's a big opportunity in Q2 and the rest of the year to cross-sell Zoom Phone into its video-focused installed base of users. Investing aggressively Thanks to Zoom's 169% year-over-year increase in revenue during the first quarter, the company was able to benefit from operating leverage despite spending aggressively on research, development, sales, and marketing. The company's research and development (R&D) spending was up 66% year over year during the period. Sales and marketing spend jumped 69% year over year. Importantly, the company plans to continue investing aggressively in both R&D and sales and marketing. "We are expanding our hiring plans for the rest of year to meet the opportunity presented in this new environment," said Steckelberg during the earnings call. 10 stocks we like better than Zoom Video CommunicationsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Zoom Video Communications wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Zoom Video Communications and recommends the following options: short August 2020 $130 calls on Zoom Video Communications. The Motley Fool has a disclosure policy.Source