Zoom Video Communications Inc (NASDAQ:ZM) shares climbed almost 12% in Tuesday's pre-market trading after the video communications platform provider projected a larger-than-expected profit for the current quarter.
For the fiscal first quarter of 2025, Zoom said in a post-close update on Monday that it expected adjusted earnings per share (EPS) to sit between $1.18 and $1.20, above expectations of $1.13.
Revenue was guided to hit $1.13 billion meanwhile, in line with Wall Street analyst estimates.
Zoom also reported mixed results for the fiscal fourth quarter ended January 31, 2024.
4Q revenue rose 2.6% year-over-year to $1.15 billion, above estimates of $1.13 billion but adjusted EPS of $1.15 fell short of estimates of $1.22.
For the full year fiscal 2024, Zoom posted adjusted EPS of $4.37 on revenue of $4.53 billion, short of estimates of $4.64 on $4.63 billion, respectively.
Shares of Zoom traded 11.9% higher at $71.22 on Tuesday morning.