English
Français
Deutsch
Italiano
Português
Русский
Español
简体中文
日本語
Zoom Video Communications
shares were rising in late trading Monday after the videoconferencing software company posted better-than-expected results for its fiscal second quarter.
For the July quarter,
Zoom
(ticker: ZM) reported adjusted earnings per share of $1.34, compared with the consensus estimate of $1.06 among Wall Street analysts tracked by FactSet. Revenue came in at $1.14 billion, above analysts’ expectations of $1.11 billion.
Zoom also forecast a range of revenue for the current quarter between $1.115 billion and $1.12 billion, compared with the consensus view of $1.13 billion.
Full year guidance was also solid. The company forecast revenue between $4.485 billion and $4.495 billion for fiscal 2024 versus the $4.48 billion estimate.
“We continue to innovate and expand our platform to help bring value and enhanced productivity to our customers with new AI features like Zoom IQ Meeting Summary and Team Chat Compose,” said CEO Eric Yuan in the news release.
Zoom said it had 218,100 enterprise customers at the end of the fiscal second quarter, up 6.9% from a year ago, with 3,672 customers generating more than $100,000 in trailing 12 months revenue, up 17.8% from a year ago. Online average monthly churn also dropped by 0.4 percentage points to 3.2% from last year for the same quarter.
In late trading, Zoom shares were up 2.5%. Zoom stock was roughly flat this year as of Monday’s closing price.
Write to Tae Kim at [email protected]
Read the full article here
