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Zoom Beats on Earnings, Revenue in Q4

Published 03/04/2020, 04:33 PM
Updated 03/04/2020, 04:50 PM
© Reuters.

 

By Yasin Ebrahim

Investing.com - Videoconferencing software company Zoom delivered better-than-expected guidance following fourth-quarter results that beat on both the top and bottom lines amid a surge in customers using its platform.

Zoom Video Communications Inc (NASDAQ:ZM) fell 6% in after-hours trading.

The company reported fiscal fourth-quarter earnings of 15 cents per share on revenue of $188.3 million, beating consensus estimates for earnings of 7 cents per share on revenue $176.6 million.

The number of customers paying Zoom over $100,000 rose to 641 for the quarter, up 86% from a year earlier, with total customers rising 61% to 81,900.

Looking ahead to the first quarter, the company forecast revenue within a range of $199 million and $201.0 million and earnings per share of $0.10. That compared with consensus estimates for earnings per share of $0.06 and $185.7 million in revenue.

For the full 2021 fiscal year, Zoom guided earnings per share in the range of 42 cents to 45 cents on revenue of $905 million to $915 million.

Latest comments

unbelievable, the incompetence....
The most irresponsible reporting in the history of journalism. Shame on you. Were you one of the investors who bought the wrong company? Have you written this article citing the wrong company to boost the share price for your own personal gain???? There can be no other explanation for this mistake....... This site is also recommending a strong buy for company who has not reported since 2014. So shameful, for all of the investors you are misleading.
If you're writing about Zoom Video Communications, the correct Symbol would be ZM. The Symbol ZOOM belongs to Zoom Technologies, which is a Beijing-based maker of mobile phone components...
Lol... good catch...Zoom instead of ZM.
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