Zoom Video Communications Inc (NASDAQ:ZM) is set to start Tuesday’s session on the front foot after last night’s second-quarter results topped Street expectations.
In New York, in premarket, the video calling stock was up nearly 4% in early premarket deals changing hands at US$69.81.
Zoom posted earnings of $1.34 per share, well above expectations of $1.05 per share, on revenue of $1.14 billion, compared to expectations of $1.12 billion.
Net income was $182 million, compared to $45.7 million in the year-ago quarter. Its enterprise customers (business units Zoom or its partners work with) totaled 218,100 on July 31, compared to 215,900 on April 30.
Looking ahead, Zoom guided for fiscal third-quarter adjusted earnings of $1.07 to $1.09 per share on revenue of $1.115 billion to $1.12 billion. Analysts had projected $1.03 per share on revenue of $1.13 billion.
For the full year, the company upped its EPS guidance to between $4.63 and $4.67 per share from past projections of $4.25 to $4.31. Its revenue guidance rose to $4.495 billion from $4.465 billion.
Shares of Zoom jumped 4.3% to $70.16 after hours Monday.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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