Zoom Video Communications Shares Zoom In Pre-market On Encouraging Q4 Results, Outlook

(RTTNews) - Shares of Zoom Video Communications, Inc. (ZM) are rising more than 12 percent in pre-market on Tuesday at $63.12, after reporting upbeat quarterly results, above view. The company's first-quarter as well as full-year profit outlook also came in above consensus estimates.

The company posted net income of $298.8 million, or $0.95 per share for the fourth quarter, compared with net loss of $104.1 million, or $0.36 per share in the same quarter a year ago.

Excluding one-time items, earnings of $444.0 million or $1.42 per share beat the average estimate of analysts polled by Thomson-Reuters of $1.15 per share.

Revenue for the quarter was $1.147 billion, up 2.6% year over year. The consensus estimate was for $1.13 billion.

Looking ahead, Zoom expects first-quarter revenue to be about $1.125 billion, and adjusted EPS to be between $1.18 and $1.20. Analysts expect the company to report earnings of $1.13 per share on revenue of $1.13 billion for the quarter.

For the full year, revenue is expected to be approximately $4.600 billion, and adjusted EPS to be in the range of $4.85 - $4.88. The consensus estimate for revenue is at $4.65 billion and for earnings is at $4.71 per share.

The stock had closed at $63.12, down 0.44 percent on Monday. It has been trading in the range of $58.87 - $76.98 in the last 1 year.