Zoom Stock Rallies On Q4 Earnings Report

Black and Gray Laptop Computer

 Image Source: Pexels
 

  • Zoom reported its financial results for the fourth quarter today.
  • Here's what its CEO Eric Yuan said in a press release on Monday.
  • Zoom stock is now trading close to its high in late December.

Zoom Video Communications Inc (Nasdaq: ZM) is trading up in extended hours on Monday after reporting upbeat results for its fiscal fourth quarter.
 

Zoom stock pops on solid guidance

The stock is being rewarded also because the management issued encouraging guidance for the future. Zoom now forecasts its revenue to come in at $1.125 billion.

That’s roughly in line with $1.13 billion that analysts had called for. Eric Yuan – the chief executive of Zoom Video Communications said in a press release today:

 

In FY24, we unveiled Zoom AI Companion. We’re committed to democratizing AI accessibility, offering it to all our customers regardless of business size, included at no extra charge with a paid license.

The communications technology company expects $1.18 to $1.20 of adjusted per-share earnings in Q1 – ahead of Street estimates. Zoom stock is now trading close to its high in late December.
 

Notable figures in Zoom Q4 earnings release

  • Earned $298.8 million that translates to 95 cents a share
  • Had $104.1 million of net loss (36 cents a share) last year
  • Adjusted EPS printed at $1.42 as per the earnings report
  • Revenue climbed 2.6% year-over-year to $1.14 billion
  • Consensus was $1.15 a share on $1.13 billion in revenue
  • Authorized $1.5 billion worth of stock repurchase

ZM saw a 9.8% annualized growth in the number of customers who contributed over $100,000 in revenue in the trailing twelve months. CEO Yuan also said on Monday:

 

We also drove robust profitability and grew free cash flow, up 24.1% year over year to $1,471.9 million for the full fiscal year, representing a free cash flow margin of 32.5%.


More By This Author:

Micron Begins Mass Producing Its HBM3E To Be Used In Nvidia H200
Here’s Why Uniswap, dYdX, Synthetix, CAKE, RUNE Are Surging
U.S. Bitcoin Futures Expiration Sparks Market Volatility

Disclaimer: Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.